The main competitors of Wells Fargo & Company (NYSE: WFC) are the other three of the "big four" major U.S. banks: JPMorgan Chase, Citigroup and Bank of America. These four banks together hold approximately 35 to 40% of all U.S. bank deposits and serve the majority of personal and commercial accounts in the United States. In terms of total deposits as of October 2017, JPMorgan Chase is the largest, followed by Bank of America, Wells Fargo, and Citigroup. Each of the big four banks has trillions in assets.

Wells Fargo, headquartered in San Francisco, holds the distinction of operating under the very first national bank charter granted in the U.S., and in 2017, was recognized as the world's second most valuable bank brand name (behind ICBC) in a Brand Finance study of more than 400 banks. Although it ranks behind JPMorgan Chase and Bank of America in total deposits, Wells Fargo is one of the world's largest banks by market capitalization, with a market cap of $257 billion as of April 13, 2018. As of April 2018, its most recent major acquisition was Wachovia Bank, acquired in 2008. Wells Fargo offers a wide range of banking and financial services through more than 50 business lines and operates in more than 35 countries worldwide. As of their Q1 2018 earnings, its return-on-assets, or ROA, ratio is 1.26%, and its return-on-equity, or ROE, ratio is 12.37%. Wells Fargo has a price-to-book, or P/B, value of 1.40 as of April 11, 2018.

1) JPMorgan Chase

JPMorgan Chase & Company (NYSE: JPM), although it dates back to the original bank formed by J.P. Morgan, was created as it exists now through the 2000 merger of JP Morgan Bank and Chase Manhattan Bank to become the fourth largest bank worldwide. JPMorgan Chase has engaged in a number of mergers and acquisitions, including Bank One, the Bank of Chicago and Bear Stearns. Headquartered in New York, the bank operates across the entire spectrum of banking and financial services in more than 75 countries through four divisions: Asset Management; Corporate and Investment Banking; Consumer and Community Banking; and Commercial Banking. As of their Q1 2018 earnings, JPMorgan's ROE ratio is 15%. It has a P/B ratio of 1.71. As of April 2018, it has a market capitalization of $387 billion.

2) Bank of America

Bank of America Corporation (NYSE: BAC), headquartered in Charlotte, North Carolina, also achieved its current size through a series of mergers and acquisitions, including NationsBank and Fleet Boston Financial. It was ranked by Forbes in 2010 as the third largest company in the U.S. Bank of America's 2008 acquisition of Merrill Lynch transformed it into one of the largest investment banking operations worldwide and boosted it to being the largest wealth management company in the world. Bank of America has a vast retail banking presence, with retail operations in all 50 states, serving more than 50 million consumer and business accounts. Bank of America's market cap is $306 billion as of April 2018. Its TTM ROA ratio is 0.82%, and its ROE is 6.84%. It has a low P/B ratio of 1.26.

3) Citigroup

Citigroup, Inc. (NYSE: C), headquartered in New York, like its fellow big four banks, is a multinational banking and financial services company. Citigroup was formed through one of the largest mergers in history, that of Citicorp bank and the financial services firm, Travelers Group. Prior to the 2008 financial crisis, Citigroup was ranked as the largest company and the largest bank worldwide, but the company suffered massive losses during the financial crisis, dropping all the way down to last place among the big four. However, by 2017, Citigroup had recovered to become one of the best capitalized banks worldwide, with a tier 1 capital ratio of 14.7%. Citigroup's market cap is $184.6 billion as of April 13, 2018. Its TTM ROA is -0.37%, and its ROE ratio is -3.10%. Citigroup has a P/B ratio of 1.035.

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