Interest rate hikes have historically given bank stocks a boost. However, the difference between longer term and short term rates (yield curve) has been relatively flat over the past months. This gap (US 10 yr / 2 yr) needs to be either level or rising for positive effects on banks.
1-Month performance for JPM and BAC has been +0.6% and -3%, respectively. This makes me more confident in the resiliency of JPM over BAC. However, the valuation of BAC is low so we should hopefully be able to expect the stock to rise.
JPM has kept up with the S&P, not many other banks have. Strongest performing back stock as of late.
With earnings season kicking off here very soon I think it is worth keeping both of these bank stocks, each a little different. It will be interesting to see if the performance of each will be identical or if there will be some variation.