Raymond James Financial upgraded shares of BB&T (NYSE:BBT) from a market perform rating to an outperform rating in a research note released on Tuesday, January 9th, Marketbeat Ratings reports.
Several other equities analysts also recently commented on BBT. JPMorgan Chase & Co. boosted their target price on shares of BB&T from $48.50 to $49.00 and gave the stock a neutral rating in a report on Wednesday, November 1st. BMO Capital Markets upped their price target on shares of BB&T from $48.00 to $49.00 and gave the company a market perform rating in a research note on Friday, October 20th. FBR & Co set a $48.00 price target on shares of BB&T and gave the company a hold rating in a research note on Friday, October 20th. UBS Group raised shares of BB&T from a market perform rating to an outperform rating in a research note on Tuesday, January 9th. Finally, Zacks Investment Research upgraded shares of BB&T from a sell rating to a hold rating in a research report on Friday, October 27th. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $54.24.
Shares of BB&T (NYSE:BBT) opened at $55.11 on Tuesday. The stock has a market cap of $43,480.00, a P/E ratio of 20.11, a P/E/G ratio of 1.42 and a beta of 1.06. BB&T has a 12-month low of $41.17 and a 12-month high of $55.99. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.89.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. equities analysts predict that BB&T will post 3.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 9th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, February 8th. BB&T’s payout ratio is currently 48.18%.
In other BB&T news, Chairman Kelly S. King sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $54.68, for a total transaction of $3,280,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donna C. Goodrich sold 10,799 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total transaction of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares of the company’s stock, valued at $2,206,702.14. The disclosure for this sale can be found here. Insiders sold a total of 131,898 shares of company stock valued at $7,128,459 over the last ninety days. 0.36% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BBT. Schroder Investment Management Group grew its stake in shares of BB&T by 781.2% during the 2nd quarter. Schroder Investment Management Group now owns 572,784 shares of the insurance provider’s stock worth $26,125,000 after purchasing an additional 507,784 shares during the period. Franklin Resources Inc. grew its stake in BB&T by 2.4% in the 2nd quarter. Franklin Resources Inc. now owns 2,347,643 shares of the insurance provider’s stock valued at $106,606,000 after acquiring an additional 55,023 shares during the period. Alliancebernstein L.P. grew its stake in BB&T by 2.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,390,603 shares of the insurance provider’s stock valued at $63,147,000 after acquiring an additional 30,469 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in BB&T by 29.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 32,750 shares of the insurance provider’s stock valued at $1,487,000 after acquiring an additional 7,442 shares during the period. Finally, Coastline Trust Co grew its stake in BB&T by 11.6% in the 2nd quarter. Coastline Trust Co now owns 44,855 shares of the insurance provider’s stock valued at $2,037,000 after acquiring an additional 4,660 shares during the period. 65.90% of the stock is currently owned by institutional investors and hedge funds.
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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.
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