BB&T (NYSE:BBT) had its price target hoisted by research analysts at Argus to $60.00 in a research note issued on Friday, January 19th. The firm presently has a “buy” rating on the insurance provider’s stock. Argus’ target price indicates a potential upside of 13.21% from the stock’s current price. The analysts noted that the move was a valuation call.
BBT has been the topic of a number of other reports. 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 research report on Thursday, October 5th. Citigroup reissued a “neutral” rating and issued a $49.00 price objective (up from $47.00) on shares of BB&T in a research report on Monday, October 9th. Zacks Investment Research downgraded shares of BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. SunTrust Banks reissued a “buy” rating and issued a $50.00 price objective on shares of BB&T in a research report on Thursday, October 12th. Finally, Oppenheimer reissued a “hold” rating on shares of BB&T in a research report on Friday, October 20th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.52.
Shares of BB&T (NYSE BBT) traded up $0.58 on Friday, reaching $53.00. 3,679,811 shares of the company traded hands, compared to its average volume of 4,538,890. BB&T has a 1 year low of $41.17 and a 1 year high of $55.99. The stock has a market cap of $40,992.75, a P/E ratio of 19.34, a P/E/G ratio of 1.34 and a beta of 1.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, topping the 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 firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. research analysts predict that BB&T will post 3.89 earnings per share for the current year.
In related news, insider Christopher L. Henson sold 48,524 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $54.75, for a total transaction of $2,656,689.00. Following the completion of the sale, the insider now owns 180,089 shares in the company, valued at approximately $9,859,872.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nido R. Qubein sold 21,025 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $54.50, for a total transaction of $1,145,862.50. Following the sale, the director now owns 59,513 shares of the company’s stock, valued at approximately $3,243,458.50. The disclosure for this sale can be found here. Insiders sold a total of 152,923 shares of company stock worth $8,274,322 over the last ninety days. Insiders own 0.36% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Merchants Corp boosted its stake in BB&T by 9.1% during the 3rd quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock worth $3,790,000 after purchasing an additional 6,753 shares during the period. Bank of Hawaii acquired a new stake in BB&T during the 3rd quarter worth $657,000. Bank of New York Mellon Corp boosted its stake in BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock worth $414,436,000 after purchasing an additional 86,200 shares during the period. Suntrust Banks Inc. lifted its stake in shares of BB&T by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 331,815 shares of the insurance provider’s stock worth $15,066,000 after acquiring an additional 12,702 shares during the period. Finally, State of Wisconsin Investment Board lifted its stake in shares of BB&T by 8.1% in the 3rd quarter. State of Wisconsin Investment Board now owns 619,383 shares of the insurance provider’s stock worth $29,074,000 after acquiring an additional 46,160 shares during the period. Hedge funds and other institutional investors own 65.89% 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.
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