A number of research firms have changed their ratings and price targets for BB&T (NYSE: BBT):
5/3/2018 – BB&T was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating. 4/23/2018 – BB&T had its “overweight” rating reaffirmed by analysts at Morgan Stanley. 4/23/2018 – BB&T was upgraded by analysts at Hilliard Lyons from a “neutral” rating to a “buy” rating. They now have a $51.00 price target on the stock. 4/20/2018 – BB&T had its price target lowered by analysts at BMO Capital Markets from $64.00 to $63.00. They now have an “outperform” rating on the stock. 4/20/2018 – BB&T had its price target raised by analysts at Morgan Stanley from $59.00 to $60.00. They now have an “equal weight” rating on the stock. 4/11/2018 – BB&T was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating. 4/5/2018 – BB&T had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $56.00 price target on the stock. 3/27/2018 – BB&T was upgraded by analysts at Wells Fargo from a “market perform” rating to an “outperform” rating. They now have a $44.00 price target on the stock. 3/27/2018 – BB&T was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $59.00 price target on the stock, up previously from $55.00. 3/20/2018 – BB&T was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BB&T’s shares have outperformed the industry over the past three months. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates and focus on non-interest income growth are expected to support revenues. Further, the company's continuous expansion via acquisitions and lower tax rates are likely to aid profitability. However, mounting expenses might hurt bottom-line growth to some extent. Also, the company's significant exposure to risky loans remains a major concern. Further, a stretched valuation shows limited upside potential for the stock.”
BB&T stock opened at $53.11 on Monday. The company has a market capitalization of $41,412.63, a PE ratio of 16.91, a P/E/G ratio of 1.17 and a beta of 1.05. BB&T has a twelve month low of $41.17 and a twelve month high of $56.31. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.88.
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BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, April 19th. The insurance provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a net margin of 21.63% and a return on equity of 10.38%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. equities research analysts predict that BB&T will post 4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, May 10th. This is a boost from BB&T’s previous quarterly dividend of $0.33. BB&T’s dividend payout ratio is 42.04%.
In other news, Director K. David Jr. Boyer sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $55.03, for a total value of $137,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daryl N. Bible sold 74,847 shares of the company’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $53.58, for a total transaction of $4,010,302.26. Following the completion of the transaction, the chief financial officer now owns 185,226 shares of the company’s stock, valued at approximately $9,924,409.08. The disclosure for this sale can be found here. Insiders sold 299,769 shares of company stock valued at $16,132,220 in the last quarter. Corporate insiders own 0.51% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BBT. Millennium Management LLC bought a new stake in shares of BB&T in the fourth quarter worth $67,159,000. AXA lifted its position in shares of BB&T by 223.2% in the fourth quarter. AXA now owns 1,678,491 shares of the insurance provider’s stock worth $83,454,000 after purchasing an additional 1,159,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of BB&T by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 9,689,965 shares of the insurance provider’s stock worth $481,786,000 after purchasing an additional 860,902 shares in the last quarter. Conning Inc. lifted its position in shares of BB&T by 3,301.2% in the first quarter. Conning Inc. now owns 747,011 shares of the insurance provider’s stock worth $38,874,000 after purchasing an additional 725,048 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of BB&T in the fourth quarter worth $32,059,000. Institutional investors own 63.83% of the company’s stock.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.