Bank stocks were the last place any investor wanted to be during the financial crisis. However, as balance sheets have improved, bank stocks have gone on an impressive run. Despite the recent gains, many of the big banks are still trading at deep discounts when compared to their historical valuations.

In this video, Motley Fool banking analysts Matt Koppenheffer and David Hanson identify which banks are the cheapest and debate how much upside these megabanks have over the next five years. 

David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America and Morgan Stanley. The Motley Fool owns shares of Bank of America and Citigroup. 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.