Wall Street analysts forecast that BB&T Co. (NYSE:BBT) will announce $2.95 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for BB&T’s earnings, with the lowest sales estimate coming in at $2.94 billion and the highest estimate coming in at $2.97 billion. BB&T posted sales of $2.87 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The company is scheduled to report its next quarterly earnings results on Thursday, January 17th.
On average, analysts expect that BB&T will report full-year sales of $11.57 billion for the current financial year, with estimates ranging from $11.55 billion to $11.59 billion. For the next fiscal year, analysts forecast that the firm will post sales of $11.92 billion, with estimates ranging from $11.83 billion to $12.02 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow BB&T.
BB&T (NYSE:BBT) last released its earnings results on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business earned $0.74 EPS. The business’s revenue was up 1.6% on a year-over-year basis.
Several research firms have recently commented on BBT. B. Riley reduced their target price on shares of BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. BMO Capital Markets restated a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Thursday, July 12th. Finally, FIG Partners cut shares of BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $55.50.
In related news, Director I. Patricia Henry sold 611 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the completion of the sale, the director now owns 4,375 shares in the company, valued at $216,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BBT. Zions Bancorporation acquired a new stake in shares of BB&T in the third quarter valued at about $102,000. IMA Wealth Inc. acquired a new stake in shares of BB&T in the second quarter valued at about $116,000. First PREMIER Bank lifted its stake in shares of BB&T by 64.9% in the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 1,000 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of BB&T in the second quarter valued at about $167,000. Finally, Whittier Trust Co. lifted its stake in shares of BB&T by 591.3% in the second quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 3,678 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.
BBT stock opened at $49.17 on Friday. BB&T has a one year low of $45.73 and a one year high of $56.31. The firm has a market capitalization of $37.21 billion, a PE ratio of 15.66, a PEG ratio of 1.17 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 8th. BB&T’s dividend payout ratio (DPR) is 51.59%.
BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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