BMO Capital Markets Reaffirms “Hold” Rating for BB&T Corporation (BBT)

BMO Capital Markets reaffirmed their hold rating on shares of BB&T Corporation (NYSE:BBT) in a research note issued to investors on Friday, June 30th. They currently have a $48.00 price target on the insurance provider’s stock.

BBT has been the topic of a number of other research reports. Oppenheimer Holdings, Inc. reissued a hold rating on shares of BB&T Corporation in a research report on Thursday, April 20th. BidaskClub raised BB&T Corporation from a sell rating to a hold rating in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a hold rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Wednesday, April 5th. Royal Bank Of Canada reaffirmed a buy rating and issued a $50.00 target price on shares of BB&T Corporation in a report on Tuesday, April 4th. Finally, Hilliard Lyons downgraded BB&T Corporation from a buy rating to a neutral rating and set a $51.00 price objective on the stock. in a report on Monday, March 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $47.43.

Shares of BB&T Corporation (BBT) traded up 0.85% on Friday, reaching $47.28. 930,016 shares of the company traded hands. BB&T Corporation has a 52-week low of $36.21 and a 52-week high of $49.88. The company has a market capitalization of $38.21 billion, a PE ratio of 17.65 and a beta of 1.06. The firm has a 50-day moving average of $45.09 and a 200-day moving average of $45.10.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. On average, equities research analysts forecast that BB&T Corporation will post $2.83 earnings per share for the current fiscal year.

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BB&T Corporation declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.82%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s payout ratio is 44.78%.

In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in shares of BB&T Corporation during the fourth quarter worth about $4,670,000. Dodge & Cox acquired a new stake in shares of BB&T Corporation during the fourth quarter worth about $996,945,000. Norges Bank acquired a new stake in shares of BB&T Corporation during the fourth quarter worth about $266,182,000. Assenagon Asset Management S.A. acquired a new stake in shares of BB&T Corporation during the fourth quarter worth about $305,000. Finally, Numeric Investors LLC boosted its stake in shares of BB&T Corporation by 59.9% in the fourth quarter. Numeric Investors LLC now owns 53,100 shares of the insurance provider’s stock worth $2,497,000 after buying an additional 19,900 shares during the last quarter. 64.42% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

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