Bank of America Corp (NYSE:BAC) announced that Linda Stanley will succeed Hill Ewald as market president, serving as the company’s enterprise leader in Charlottesville. Ewald is transitioning to a private client advisor role within U.S. Trust and will continue to be engaged with the local market team and Charlottesville community.
As market president, Stanley will work across Charlottesville and Albemarle, Buckingham, Fluvanna, Greene and Nelson counties to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. She also will lead Bank of America’s corporate social responsibility work in the market, which leverages the unmatched capabilities of the company to help partners, people, communities, and a broad client and customer base more effectively address a wide range of issues.
“Linda’s demonstrated leadership and banking expertise over the past 30 years will ensure we’re helping make our customers’ and clients’ financial lives better, through the power of every connection we can make with them,” said Brian Moynihan, chief executive officer, Bank of America.
In addition to her responsibilities as market president, Stanley is Business Banking market executive for Virginia. Business Banking provides integrated financial advice and services – including credit, treasury and merchant services – to small and midsized U.S. companies with annual revenues of $5 million to $50 million.
Beginning her career at the Federal Reserve Bank of Atlanta, Stanley has been in banking for 30 years, the majority of which have centered on the specialized industries of energy, power and utilities.
Stanley has been an active community leader throughout her career. In previous roles, she served on the boards of the South Carolina Chamber of Commerce and the Charlotte Regional Partnership. She has been a supporter of the Leukemia & Lymphoma Society, American Red Cross, Epilepsy Foundation, and Junior League.
Stanley has dual bachelor’s degrees in finance and marketing from the University of South Carolina and attended the master’s of business administration program at Georgia State University. (Original Source)
Shares of Bank of America closed yesterday at $13.27, up $0.13 or 0.99%. BAC has a 1-year high of $18.48 and a 1-year low of $10.99. The stock’s 50-day moving average is $12.83 and its 200-day moving average is $15.45.
On the ratings front, Bank of America has been the subject of a number of recent research reports. In a report released today, Keefe analyst Christopher Mutascio maintained a Buy rating on BAC, with a price target of $19, which implies an upside of 43.2% from current levels. Separately, on March 4, Deutsche Bank’s Matt O’Connor maintained a Buy rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher Mutascio and Matt O’Connor have a total average return of 0% and -3.6% respectively. Mutascio has a success rate of 57.7% and is ranked #2175 out of 3700 analysts, while O’Connor has a success rate of 35.1% and is ranked #3282.
Overall, 3 research analysts have assigned a Hold rating and 9 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $18.67 which is 40.7% above where the stock closed yesterday.