Oppenheimer Holdings, Inc. restated their hold rating on shares of BB&T Corporation (NYSE:BBT) in a report issued on Friday, October 20th. Oppenheimer Holdings also issued estimates for BB&T Corporation’s FY2018 earnings at $3.36 EPS.
BBT has been the topic of several other research reports. Zacks Investment Research downgraded BB&T Corporation from a hold rating to a sell rating in a research report on Tuesday, October 10th. Robert W. Baird restated a hold rating and issued a $45.00 target price on shares of BB&T Corporation in a research report on Friday, August 25th. Macquarie upgraded BB&T Corporation from an underperform rating to a neutral rating and set a $47.00 target price on the stock in a research report on Friday, August 4th. Jefferies Group LLC restated a hold rating and issued a $49.00 target price on shares of BB&T Corporation in a research report on Friday, September 15th. Finally, Citigroup Inc. restated a neutral rating and issued a $49.00 target price (up previously from $47.00) on shares of BB&T Corporation in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $49.18.
Shares of BB&T Corporation (NYSE BBT) opened at 48.74 on Friday. BB&T Corporation has a one year low of $38.23 and a one year high of $49.88. The stock’s 50 day moving average price is $46.30 and its 200 day moving average price is $45.09. The stock has a market capitalization of $39.39 billion, a PE ratio of 18.19 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. Equities research analysts predict that BB&T Corporation will post $2.76 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.71%. BB&T Corporation’s payout ratio is presently 49.07%.
In other news, Chairman Kelly S. King sold 66,372 shares of BB&T Corporation stock in a transaction on Friday, October 20th. The stock was sold at an average price of $47.53, for a total value of $3,154,661.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donta L. Wilson sold 4,250 shares of BB&T Corporation stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.51, for a total value of $201,917.50. The disclosure for this sale can be found here. Insiders sold 133,964 shares of company stock valued at $6,365,165 over the last ninety days. Insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new position in BB&T Corporation during the 2nd quarter worth $111,000. Community Bank N.A. grew its stake in BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares in the last quarter. Liberty Capital Management Inc. acquired a new position in BB&T Corporation during the 2nd quarter worth $136,000. Guardian Life Insurance Co. of America grew its stake in BB&T Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 21 shares in the last quarter. Finally, Oakworth Capital Inc. grew its stake in BB&T Corporation by 51.1% during the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 1,045 shares in the last quarter. 64.28% of the stock is owned by institutional investors and hedge funds.
BB&T Corporation 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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