In the following video, Motley Fool financial analysts David Hanson and Matt Koppenheffer look at JPMorgan's cutting of 4,000 jobs from its retail branches as part of a larger trend. While the move in and of itself isn't all that significant, it represents a shift that many banks are pursuing -- a move to reduce the number of branches and shift into more electronic banking. While this may reduce the number of depositors, larger banks such as JPMorgan, Bank of America , and Wells Fargo may be shifting strategically away from depositor quantity, and toward quality, with moves to build stronger relationships with their wealthier account holders.
Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials Bureau Chief, lift the veil on the bank's operations, including three reasons to buy and three reasons to sell. Click here now to claim your copy, and as an added bonus, you'll receive a full year of FREE updates and expert guidance as key news breaks.
The article Hey, Top 1%! These Banks Will Show You Love originally appeared on Fool.com.
David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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