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BANK OF AMERICA (BAC)
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Bank of America : pledges $600,000 to Charleston's International African Museum

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02/24/2018 | 04:46am CET

One of the biggest financial institutions in South Carolina has committed $600,000 to move Charleston’s International African American Museum closer to the fund-raising goal.

Charlotte-based Bank of America announced the gift on Friday before the museum's board meeting.

"We’re stronger when we connect our diverse backgrounds and perspectives," said Mark Munn, the bank's president for the Charleston market. "It’s why we’re proud to support the International African American Museum."

Bank of America is also a founding member of the National Museum of African American History and Culture in Washington, D.C., he said.

The donation to the Charleston museum will be recognized in one of the rooms in the Center for Family History.

The gift leaves less than $5 million still to be raised, according to former Charleston Mayor Joe Riley, who was driving force behind the museum project and is a member of the board of directors. He said he expects construction to start this summer.

Riley announced the vision for the museum in his 2000 State of the City address. The board has reported more than $12 million in donations since last fall, including $10 million from the Lilly Endowment.

"In the last 18 months we have made extraordinary progress in our fund-raising drive," Riley said.

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The museum will be built near the Charleston Maritime Center at the former Gadsden's Wharf, where a large number of enslaved Africans entered America.

The $75 million project will get a third of its funding from private donations, with the rest coming from the state, county and city.

Bank of America is the second biggest financial institution operating in South Carolina based on the nearly $13 billion in deposits at its 80 branches around the state.

© Copyright, 2018, The Post and Courier. All Rights Reserved., source Newspapers

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Financials ($)
Sales 2018 92 396 M
EBIT 2018 38 930 M
Net income 2018 25 443 M
Debt 2018 -
Yield 2018 1,88%
P/E ratio 2018 12,84
P/E ratio 2019 11,31
Capi. / Sales 2018 3,55x
Capi. / Sales 2019 3,39x
Capitalization 328 B
Chart BANK OF AMERICA
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Bank of America Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Technical analysis trends BANK OF AMERICA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 33,8 $
Spread / Average Target 6,1%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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