BMO Capital Markets reaffirmed their hold rating on shares of BB&T Corporation (NYSE:BBT) in a report released on Friday, June 30th. They currently have a $48.00 price objective on the insurance provider’s stock.
A number of other equities analysts have also recently commented on the company. BidaskClub upgraded BB&T Corporation from a sell rating to a hold rating in a report on Friday, June 30th. Hilliard Lyons upgraded BB&T Corporation from a neutral rating to a buy rating and dropped their target price for the stock from $51.00 to $49.00 in a report on Monday, April 24th. Oppenheimer Holdings, Inc. restated a hold rating on shares of BB&T Corporation in a report on Thursday, April 20th. FBR & Co restated a hold rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $49.00 target price on shares of BB&T Corporation in a research report on Wednesday, April 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $47.43.
BB&T Corporation (NYSE:BBT) remained flat at $46.88 during mid-day trading on Friday. The company’s stock had a trading volume of 3,667,873 shares. BB&T Corporation has a 12 month low of $36.21 and a 12 month high of $49.88. The company has a market cap of $37.88 billion, a PE ratio of 17.49 and a beta of 1.06. The firm has a 50 day moving average price of $45.09 and a 200 day moving average price of $45.10.
BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, equities analysts anticipate that BB&T Corporation will post $2.83 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a $0.33 dividend. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.82%. BB&T Corporation’s dividend payout ratio is presently 44.78%.
BB&T Corporation declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 5.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value of $1,342,201.05. Following the transaction, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new position in shares of BB&T Corporation during the fourth quarter worth approximately $4,670,000. Dodge & Cox bought a new stake in BB&T Corporation during the fourth quarter valued at approximately $996,945,000. Norges Bank bought a new stake in BB&T Corporation during the fourth quarter valued at approximately $266,182,000. Assenagon Asset Management S.A. bought a new stake in BB&T Corporation during the fourth quarter valued at approximately $305,000. Finally, Numeric Investors LLC boosted its stake in BB&T Corporation by 59.9% in the fourth quarter. Numeric Investors LLC now owns 53,100 shares of the insurance provider’s stock valued at $2,497,000 after buying an additional 19,900 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.
BB&T Corporation Company Profile
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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