BB&T Corporation (NYSE:BBT) announced its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78, Bloomberg Earnings reports. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.
Shares of BB&T Corporation (NYSE:BBT) opened at 48.74 on Friday. The company has a market capitalization of $39.39 billion, a price-to-earnings ratio of 18.19 and a beta of 1.07. The company’s 50 day moving average price is $46.06 and its 200-day moving average price is $45.03. BB&T Corporation has a 1-year low of $38.23 and a 1-year high of $49.88.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.71%. BB&T Corporation’s payout ratio is 49.07%.
In other news, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher L. Henson sold 42,233 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.56, for a total transaction of $2,008,601.48. Following the sale, the insider now directly owns 207,620 shares in the company, valued at $9,874,407.20. The disclosure for this sale can be found here. Insiders have sold a total of 133,964 shares of company stock worth $6,365,165 over the last ninety days. 0.36% of the stock is owned by insiders.
A number of research firms recently commented on BBT. Zacks Investment Research raised BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a report on Friday, August 4th. Wells Fargo & Company began coverage on BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price for the company. Finally, Citigroup Inc. restated a “neutral” rating and set a $49.00 price objective (up previously from $47.00) on shares of BB&T Corporation in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $49.18.
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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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