JPMorgan being hurt by 'outrageous' attacks: Bove

Adam Jeffery | CNBC

Regulators chasing after JPMorgan Chase are damaging the bank and anyone who doesn't think so is making "a big mistake," analyst Dick Bove said.

The largest U.S. financial institution by deposits has been under relentless fire this year after it lost more than $6 billion on the so-called London Whale trading losses.

Since then, the bank has been hit by fines and lawsuits that Bove, the vice president of equity research at Rafferty Capital Markets, expects to cost the firm, when including the Whale losses, upwards of $8 billion in each of the next few years.

Bove's analysis runs counter to the consensus, which believes the bank is strong enough to overcome its multiple brushes with regulators.