Stock Update (NYSE:BAC): Bank of America Corp Names Renee Tabben Market President for Grand Rapids

Bank of America Corp (NYSE:BAC) announces that Renee Tabben has been named Grand Rapids market president, serving as the company’s enterprise leader for the western region of Michigan. The Grand Rapids market includes Michigan’s Barry, Kent, Montcalm and Ottawa counties.

In this role, Tabben will work closely with Matt Elliott, Michigan state and Detroit market president, to connect Bank of America’s business lines to deliver integrated financial services to individuals, families and businesses. She 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.

“Renee’s knowledge of  western Michigan and her 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.

Tabben brings outstanding leadership credentials to the market president role. She has a remarkable leadership track record at Merrill Lynch, serving clients for 19 years. Currently, she is Merrill Lynch Wealth Management market executive for West Central Michigan, and leads more than 130 financial advisors in the Grand Rapids, Portage, Muskegon, Ann Arbor, East Lansing, Saginaw and Traverse City offices.

She holds a Bachelor of Science degree from Butler University and received an MBA from Northwestern University, J. L. Kellogg School of Management. Tabben serves as a board member of the Grand Rapids Symphony Orchestra.(Original Source)

Shares of Bank of America are trading at $13.57, up $0.15 or 1.16%. 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 $12.95 and its 200-day moving average is $15.25.

On the ratings front, BAC has been the subject of a number of recent research reports. In a report issued on March 21, Credit Suisse analyst Susan Roth Katzke reiterated a Buy rating on BAC, with a price target of $18, which represents a potential upside of 33.4% from where the stock is currently trading. Separately, on March 16, CLSA’s Mike Mayo assigned a Sell rating to the stock .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Susan Roth Katzke and Mike Mayo have a total average return of -3.8% and -2.3% respectively. Katzke has a success rate of 37.5% and is ranked #2935 out of 3766 analysts, while Mayo has a success rate of 50.0% and is ranked #2798.

Overall, one research analyst has rated the stock with a Sell rating, 3 research analysts have assigned a Hold rating and 7 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 $18.00 which is 33.4% above where the stock opened today.


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