Zacks Investment Research upgraded shares of BB&T (NYSE:BBT) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $55.00 price objective on the insurance provider’s stock.
According to Zacks, “Shares of BB&T have outperformed the industry so far this year. The company has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. However, elevated expense levels and the company's significant exposure toward risky loans remain major near-term concerns.”
A number of other equities research analysts have also issued reports on the company. ValuEngine lowered BB&T from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Stephens reaffirmed a buy rating and issued a $59.00 target price on shares of BB&T in a research note on Friday, July 20th. FIG Partners lowered BB&T from an outperform rating to a market perform rating in a research note on Friday, July 20th. B. Riley reduced their target price on BB&T from $59.00 to $56.00 and set a buy rating on the stock in a research note on Friday, July 20th. Finally, BMO Capital Markets reduced their target price on BB&T from $59.00 to $58.00 and set an outperform rating on the stock in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $54.63.
BB&T (NYSE:BBT) last posted its earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). BB&T had a net margin of 22.53% and a return on equity of 11.02%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the company posted $0.77 EPS. BB&T’s quarterly revenue was up .8% compared to the same quarter last year. Analysts expect that BB&T will post 4 EPS for the current fiscal year.
In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the transaction, the insider now directly owns 14,911 shares in the company, valued at approximately $768,662.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BBT. First Republic Investment Management Inc. raised its holdings in BB&T by 65.1% in the 1st quarter. First Republic Investment Management Inc. now owns 192,950 shares of the insurance provider’s stock valued at $141,000 after acquiring an additional 76,093 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of BB&T during the 1st quarter worth $860,000. Achmea Investment Management B.V. increased its holdings in shares of BB&T by 430.0% during the 1st quarter. Achmea Investment Management B.V. now owns 42,928 shares of the insurance provider’s stock worth $2,231,000 after buying an additional 34,828 shares during the last quarter. Crawford Investment Counsel Inc. increased its holdings in shares of BB&T by 17.6% during the 1st quarter. Crawford Investment Counsel Inc. now owns 13,535 shares of the insurance provider’s stock worth $704,000 after buying an additional 2,021 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of BB&T by 33.4% during the 1st quarter. Blair William & Co. IL now owns 62,441 shares of the insurance provider’s stock worth $3,249,000 after buying an additional 15,625 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.
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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