The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK (

Trefis

) -- Customer sentiment is piling up against

Bank of America

(BAC) - Get Report

, as indicated by a

recent poll by Harris Interactive

. The online survey also gave competitors

JPMorgan Chase

(JPM) - Get Report

and

Wells Fargo

(WFC) - Get Report

a reason to sit down and rethink their "customer-focused" strategies. According to the results, Bank of America has the most reason to worry as 9% of the customers surveyed stated that they were "not at all likely" to continue with the bank's services while 6% of Wells Fargo customers and 3% of JPMorgan customers held the same view.

As we witnessed over the earnings season, the retail operations for these banks are incredibly important given their stability as the capital-markets-related businesses such as trading and investment banking have been extremely volatile given macro headwinds.

We currently have a price estimate of just about

$11 for Bank of America's stock

, which is about 50% ahead of the market price. We are reviewing our estimates in light of the recent lawsuits against the bank and the weakness in global economic conditions.

See our full analysis of Bank of America

.

Bank of America Should Pay Heed

The

Harris Interactive

online poll of 2,463 bank customers conducted between Oct. 10 and 17 captured a strong undercurrent of dissent among these customers for the services they receive from the biggest names in the U.S. banking industry. Bank of America customers seem to be the most dissatisfied with the bank's services, with 10% of them marking "not at all satisfied" in the poll.

More than 40% of Bank of America customers who took the survey rated the bank as "fair" or "poor" when it came to how they were valued as customers. JPMorgan and Wells Fargo did not do very well either, with 30% of each of their customers holding the same opinion.

Bank of America's assets for consumer checking and savings accounts have grown slowly in the past two years and the growing dissatisfaction from moves like the raising fees on debit cards could hurt the bank's image. It took months for the bank to finally scrap this new fee and most believe that the bank will just find other places to hide these fees. This could result in customers shifting from the bank to its competitors.

Also see: Bank of America Will Find New Fees, Stock Worth $11

Considering the scenario that 10% of the bank's customers defect, this would mean a 10% decrease in deposit assets as well as a 10% decline in the bank's consumer and credit card loans. These changes could erode as much as 5% of the bank's estimated $11 value. And to make things worse, it would make growth prospects for the bank very grim, hitting future performance numbers.

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This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.