SunTrust Banks Weighs in on BB&T Corporation’s Q3 2017 Earnings (BBT)

BB&T Corporation (NYSE:BBT) – Research analysts at SunTrust Banks lifted their Q3 2017 earnings estimates for shares of BB&T Corporation in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst J. Demba now expects that the insurance provider will earn $0.81 per share for the quarter, up from their previous forecast of $0.80. SunTrust Banks also issued estimates for BB&T Corporation’s Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $3.14 EPS, Q1 2018 earnings at $0.81 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $0.87 EPS and FY2018 earnings at $3.42 EPS.

BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, April 20th. The insurance provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.80 billion. BB&T Corporation had a net margin of 19.06% and a return on equity of 9.49%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS.

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Other equities research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research report on Wednesday, April 5th. BMO Capital Markets reiterated a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a research report on Friday, June 30th. BidaskClub upgraded shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of BB&T Corporation in a research report on Thursday, April 20th. Finally, Hilliard Lyons upgraded shares of BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.83.

BB&T Corporation (NYSE:BBT) opened at 46.12 on Monday. BB&T Corporation has a one year low of $33.72 and a one year high of $49.88. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 18.02 and a beta of 1.06. The firm has a 50-day moving average of $43.22 and a 200-day moving average of $45.26.

In related news, insider Clarke R. Starnes III sold 53,594 shares of BB&T Corporation stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $43.37, for a total transaction of $2,324,371.78. Following the transaction, the insider now owns 131,350 shares of the company’s stock, valued at approximately $5,696,649.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America raised its position in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the last quarter. Jolley Asset Management LLC raised its position in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock worth $135,000 after buying an additional 79 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in shares of BB&T Corporation by 1.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 7,470 shares of the insurance provider’s stock worth $334,000 after buying an additional 80 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its position in shares of BB&T Corporation by 1.3% in the first quarter. WealthTrust Axiom LLC now owns 6,849 shares of the insurance provider’s stock worth $306,000 after buying an additional 85 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for BB&T Corporation (NYSE:BBT)

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