What next for BAC and banks in general? It's no secret that bank stocks are being held prisoner by the waiting game on FED policy - when will the FED raise rates and how much will it impact bank earnings? I think this is a case of much ado about nothing. A small .25 basis point raise in interest rates isn't going to crash bank revenues - yet if you look at the charts, that's what investors are fearing with BAC - as the stock is well off its highs.
I thing the prudent course is to do nothing at this moment in regards to BAC. If you own, hold. If you do not, this isn't a great time to enter the stock. For long investors, Ride out this storm. This too shall pass.
Short term rating = HOLD
Long term rating = HOLD