(Reuters) - The stock prices of several of America's largest banks are poised to rise up to 20 per cent in 2016 as valuations recover from an overreaction to turmoil in the energy markets, Barron's said.

Shares of Citigroup, Bank of America and JP Morgan have all fallen by more than 13 per cent this year and now trade at below tangible book value, a measure of the underlying value of the bank's loans.

"There's probably at least 20 per cent upside in all of these banks, which would still leave some below where they started the year," Barron's said.

The pullback was largely a reaction to the banks' exposure to energy companies, which have struggled as oil prices have fallen by nearly 70 per cent since late 2014, the publication said.

However, in most cases, energy companies account for no more than 3 per cent of total loans, and banks have already set aside reserves to protect against losses, Barron's said.