Raymond James Financial Upgrades BB&T (BBT) to Outperform

BB&T (NYSE:BBT) was upgraded by stock analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday.

Other equities analysts also recently issued reports about the stock. Citigroup raised shares of BB&T from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Tuesday. FBR & Co set a $48.00 price target on shares of BB&T and gave the company a “hold” rating in a report on Friday, October 20th. Morgan Stanley raised shares of BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 price target for the company in a report on Monday. UBS Group raised shares of BB&T from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, Stephens raised shares of BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, October 5th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BB&T presently has a consensus rating of “Hold” and a consensus price target of $51.84.

Shares of BB&T (NYSE:BBT) traded up $0.62 during mid-day trading on Tuesday, reaching $52.71. 4,032,100 shares of the company traded hands, compared to its average volume of 3,532,457. BB&T has a 12-month low of $41.17 and a 12-month high of $53.35. The company has a market cap of $41,920.00, a P/E ratio of 19.59, a P/E/G ratio of 2.09 and a beta of 1.00. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78.

BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. equities research analysts predict that BB&T will post 3.1 earnings per share for the current year.

In other news, insider Christopher L. Henson sold 42,233 shares of BB&T stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $47.56, for a total transaction of $2,008,601.48. Following the completion of the sale, the insider now owns 207,620 shares in the company, valued at approximately $9,874,407.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Kelly S. King sold 66,372 shares of BB&T stock in a transaction that occurred on Friday, October 20th. The stock was 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. In the last quarter, insiders have sold 182,150 shares of company stock valued at $8,712,859. 0.36% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of BB&T by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after buying an additional 1,325,018 shares during the period. BlackRock Inc. grew its holdings in BB&T by 0.8% during the second quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock valued at $2,166,682,000 after purchasing an additional 381,915 shares during the period. Macquarie Group Ltd. grew its holdings in BB&T by 1.7% during the second quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock valued at $778,031,000 after purchasing an additional 291,257 shares during the period. First Eagle Investment Management LLC grew its holdings in BB&T by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock valued at $783,870,000 after purchasing an additional 541,257 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in BB&T by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock valued at $414,436,000 after purchasing an additional 86,200 shares during the period. Institutional investors own 65.28% of the company’s stock.

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About BB&T

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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