BB&T (BBT) Rating Increased to Outperform at Citigroup

BB&T (NYSE:BBT) was upgraded by research analysts at Citigroup from a “market perform” rating to an “outperform” rating in a report issued on Tuesday. The firm presently has a $58.00 price target on the insurance provider’s stock. Citigroup’s price objective indicates a potential upside of 10.04% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of BB&T from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Morgan Stanley raised their price objective on shares of BB&T from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 20th. SunTrust Banks reissued a “buy” rating and set a $52.00 price objective on shares of BB&T in a report on Friday, October 20th. Stephens raised shares of BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Thursday, October 5th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $50.00 price objective on shares of BB&T in a report on Friday, October 20th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.84.

Shares of BB&T (NYSE:BBT) traded up $0.62 during trading hours on Tuesday, reaching $52.71. 4,032,100 shares of the company traded hands, compared to its average volume of 3,532,457. The firm has a market capitalization of $41,930.00, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. BB&T has a 52-week low of $41.17 and a 52-week high of $53.35. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The firm 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 firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. research analysts predict that BB&T will post 3.1 EPS for the current fiscal year.

In related news, EVP W Bennett Bradley sold 7,762 shares of BB&T stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $48.16, for a total value of $373,817.92. Following the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at approximately $1,172,262.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donna C. Goodrich sold 10,799 shares of BB&T stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total transaction of $505,069.23. Following the completion of the transaction, the insider now owns 47,182 shares in the company, valued at $2,206,702.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,150 shares of company stock worth $8,712,859. Insiders own 0.36% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Kistler Tiffany Companies LLC grew its position in BB&T by 102.6% in the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after buying an additional 1,193 shares during the last quarter. Leavell Investment Management Inc. purchased a new position in BB&T in the 4th quarter valued at $303,000. Trust Co grew its position in BB&T by 44.1% in the 3rd quarter. Trust Co now owns 8,200 shares of the insurance provider’s stock valued at $385,000 after buying an additional 2,508 shares during the last quarter. Triangle Securities Wealth Management grew its position in BB&T by 3.3% in the 4th quarter. Triangle Securities Wealth Management now owns 42,214 shares of the insurance provider’s stock valued at $2,099,000 after buying an additional 1,350 shares during the last quarter. Finally, Moneywise Inc. purchased a new position in BB&T in the 4th quarter valued at $235,000. Hedge funds and other institutional investors own 65.28% of the company’s stock.

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BB&T 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 (NYSE:BBT)

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