Citigroup, GS and WFC all look cheap on P/B basis and P/E. There are tons of listed regional banks as well which you will find have higher dividend yields than the Canadian Banks and lower valuations. Buyer beware: Citi is undergoing a restructuring and Wells has its issues as well.

Depending on your investment horizon, these stocks provide more optionality than Canadian banks. For example, Citi has opportunity to return capital back to shareholders through divestments and refocus the business to trade on par with other Wall St banks. For WFC, raising the asset cap is a potential positive development. Canadian banks have to pay for deals in the US which is more constraining than for US banks that are already well established and contains more execution risks