Jim Cramer's Stop Trading! Buy JPMorgan

Wells Fargo (WFC Quote) and JPMorgan (JPM Quote) are the only bank stocks you need to own, James Cramer said Wednesday on CNBC's "Stop Trading!" segment.

Referring to the Kiefer Sutherland character in Fox's 24, Cramer said JPMorgan chief Jamie Dimon is "the Jack Bauer of bank stocks." He said that though some people are worried about the prospect of the bank shopping for another acquisition, "some guys know how to do deals that are accretive," and Dimon is one of those. Cramer added that JPMorgan's latest quarter showed that "every single cylinder is finally firing."

By contrast, Cramer said, Citigroup (C Quote) is wandering around aimlessly and Bank of America (BAC Quote) seems strangely intent on hurting shareholders with a dilutive acquisition. Cramer said he'd sell those stocks.

Cramer would "back up the truck" and buy Northern Trust (NTRS Quote), off 4% Wednesday at $60. He called the bank a "consistently well-run company" that's being hit because Wall Street is "for a nanosecond disappointed" with the latest quarter's numbers. "This is a good situation," he said. ...