Bank analyst Dick Bove remains cautious about JPMorgan Chase.
The mountain of litigation and fines facing the investment bank won't crumble in 2014, and its future earnings remain questionable because of the recently enacted ban on proprietary trading, the vice president of equity research at Rafferty Capital said Tuesday during an interview with CNBC.
(Read more: Madoff penalties hit JPMorgan Chase profit)
Hours earlier, JPMorgan had announced a 7.3 percent decline in fourth-quarter earnings. It cited legal expenses and weaker investment banking revenue for the reduced profits.
The bank took several legal blows last year, agreeing to $20 billion worth of settlements.
"I don't think it's anywhere close to ending its litigation, its fines, its lawsuits, etc.," Bove told "Squawk on the Street." "So I'm a little more cautious on this company."
(Read more: JPMorgan Chase ready to make long-awaited deal)