Bank of America Corp (NYSE:BAC) announced that Gary C. Jankowitz has been named market president, serving as the company’s enterprise leader in Kansas City. Jankowitz succeeds Jack Ovel, who led the market since 2013 and has chosen to focus solely on business development for U.S. Trust.
In this role, Jankowitz will work across the region to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. He will also lead Bank of America’s corporate social responsibility work in the market, which leverages the capabilities of the company to help partners, people, communities and a broad client and customer base more effectively address a wide range of issues.
“Gary’s knowledge of the Kansas City region and leadership as market president 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.
Jankowitz brings outstanding leadership credentials to the market president role. He previously served as market integration executive, working with regional and market line of business leaders to drive business integration. “Gary is a natural for this position,” said Ovel, “as he has a solid understanding of our capabilities in all lines of business.”
He currently is director of the Kansas City complex for Merrill Lynch Wealth Management, consisting of the Leawood, Kansas City, Wichita and Springfield, Mo., offices. He began his career with Merrill Lynch in 2006 as a Financial Advisor in the Short Hills complex in New Jersey. Since then, he has held several leadership positions, including business manager and administrative manager in the Morristown complex (New Jersey) and administrative manager in the World Financial Center complex (New York).
He holds a Bachelor of Arts degree in mathematics from Rutgers University in New Jersey. He is an avid golfer and a member of the Central New Jersey Chapter of American Mensa. (Original Source)
Shares of Bank of America opened today at $17.78 and are currently trading down at $17.6631. BAC has a 1-year high of $18.48 and a 1-year low of $14.60. The stock’s 50-day moving average is $16.56 and its 200-day moving average is $16.75.
On the ratings front, Bank of America has been the subject of a number of recent research reports. In a report issued on October 27, Deutsche Bank analyst Matt O’Connor maintained a Buy rating on BAC, with a price target of $19, which implies an upside of 6.9% from current levels. Separately, on October 12, J.P. Morgan’s Vivek Juneja assigned a Buy rating to the stock and has a price target of $17.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Matt O’Connor and Vivek Juneja have a total average return of 4.5% and 16.7% respectively. O’Connor has a success rate of 71.4% and is ranked #658 out of 3855 analysts, while Juneja has a success rate of 71.0% and is ranked #416.
The street is mostly Bullish on BAC stock. Out of 14 analysts who cover the stock, 12 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $19.10, which represents a potential upside of 7.4% from where the stock is currently trading.