Bove sinks Bank of America stock

Say what you will about the publicity-minded Richard Bove of Rochdale Securities, a firm that's known mainly for employment of the omnipresent analyst. He can definitely move stocks, and he's done it again with Bank of America (BAC).

Bloomberg reports Bove has told clients that the government wants the bank to raise $45 billion in capital before repaying the TARP funds. If they were to attempt to do this via common equity issuance, it would "meaningfully harm Bank of America's shareholders," he wrote. He maintains a "buy" rating, however, so that's a vote of confidence.

Still, the stock tanked. Recall that last week he switched his call on Wells Fargo (WFC) to sell from neutral, which tanked the stock. Frankly, there's a hair-trigger mentality when it comes to bank stocks right now. All the big-name analysts will take their turn whipping these stocks around. 

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