Morgan Stanley upgraded shares of BB&T (NYSE:BBT) from an underweight rating to an equal weight rating in a report published on Monday morning, MarketBeat.com reports. The brokerage currently has $50.00 price objective on the insurance provider’s stock.
BBT has been the topic of several other research reports. Zacks Investment Research cut shares of BB&T from a hold rating to a sell rating in a research report on Tuesday, October 10th. BMO Capital Markets increased their price target on shares of BB&T from $48.00 to $49.00 and gave the stock a market perform rating in a research report on Friday, October 20th. Jefferies Group reissued a hold rating and set a $49.00 price target on shares of BB&T in a research report on Friday, September 15th. Barclays increased their price target on shares of BB&T from $51.00 to $57.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued a buy rating and set a $50.00 price target on shares of BB&T in a research report on Friday, October 20th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $51.84.
Shares of BB&T (NYSE:BBT) opened at $52.71 on Monday. The stock has a market cap of $41,580.00, a PE ratio of 19.59, a PEG ratio of 2.09 and a beta of 1.00. BB&T has a 1 year low of $41.17 and a 1 year high of $53.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.86.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. research analysts expect that BB&T will post 3.1 EPS for the current fiscal year.
In other BB&T news, insider Donna C. Goodrich sold 10,799 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total value of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares in the company, valued at $2,206,702.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The disclosure for this sale can be found here. Insiders have sold 182,150 shares of company stock worth $8,712,859 over the last 90 days. Insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BBT. Schroder Investment Management Group increased its stake in BB&T by 781.2% in the second quarter. Schroder Investment Management Group now owns 572,784 shares of the insurance provider’s stock valued at $26,125,000 after purchasing an additional 507,784 shares during the last quarter. Engineers Gate Manager LP purchased a new position in BB&T in the second quarter valued at approximately $2,083,000. Franklin Resources Inc. increased its stake in BB&T by 2.4% in the second quarter. Franklin Resources Inc. now owns 2,347,643 shares of the insurance provider’s stock valued at $106,606,000 after purchasing an additional 55,023 shares during the last quarter. Alliancebernstein L.P. increased its stake in BB&T by 2.2% in the second quarter. Alliancebernstein L.P. now owns 1,390,603 shares of the insurance provider’s stock valued at $63,147,000 after purchasing an additional 30,469 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in BB&T by 29.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 32,750 shares of the insurance provider’s stock valued at $1,487,000 after purchasing an additional 7,442 shares during the last quarter. Institutional investors own 65.28% of the company’s stock.
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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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