BB&T Corporation (NYSE:BBT) – Investment analysts at Oppenheimer Holdings decreased their Q4 2017 earnings per share (EPS) estimates for shares of BB&T Corporation in a research report issued on Thursday. Oppenheimer Holdings analyst B. Chittenden now anticipates that the insurance provider will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.82. Oppenheimer Holdings has a “Hold” rating on the stock.
BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share.
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A number of other equities research analysts have also recently commented on BBT. BidaskClub cut BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and reduced their target price for the company from $51.00 to $49.00 in a report on Monday, April 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a report on Wednesday, April 5th. Royal Bank Of Canada reiterated a “buy” rating and set a $50.00 price target on shares of BB&T Corporation in a research report on Tuesday, April 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.43.
Shares of BB&T Corporation (NYSE BBT) traded down 0.222% during trading on Monday, reaching $47.105. 2,811,585 shares of the company were exchanged. The company has a market capitalization of $38.07 billion, a PE ratio of 17.583 and a beta of 1.06. BB&T Corporation has a one year low of $36.19 and a one year high of $49.88. The firm’s 50 day moving average price is $44.58 and its 200 day moving average price is $45.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Wednesday, August 9th. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s payout ratio is 44.78%.
BB&T Corporation announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock worth $2,115,732,000 after buying an additional 45,740,906 shares during the last quarter. Vanguard Group Inc. raised its stake in BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the period. Janus Capital Management LLC raised its stake in BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after buying an additional 1,062,590 shares during the period. FMR LLC raised its stake in BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after buying an additional 998,898 shares during the period. Finally, First Trust Advisors LP raised its stake in BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock valued at $73,405,000 after buying an additional 966,962 shares during the period. 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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