Analysts expect that BB&T Corporation (NYSE:BBT) will report $2.87 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for BB&T Corporation’s earnings. The lowest sales estimate is $2.84 billion and the highest is $2.91 billion. BB&T Corporation posted sales of $2.77 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The business is expected to announce its next earnings results before the market opens on Thursday, October 19th.
On average, analysts expect that BB&T Corporation will report full year sales of $2.87 billion for the current year, with estimates ranging from $11.34 billion to $11.53 billion. For the next financial year, analysts forecast that the business will report sales of $11.81 billion per share, with estimates ranging from $11.65 billion to $11.97 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow BB&T Corporation.
BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. BB&T Corporation’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS.
A number of equities research analysts have weighed in on BBT shares. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of BB&T Corporation in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, September 15th. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a report on Friday, August 4th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.06.
In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Hudson Weaver sold 8,752 shares of BB&T Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,610 shares of company stock valued at $2,618,364. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new stake in shares of BB&T Corporation in the 2nd quarter valued at about $111,000. Community Bank N.A. grew its stake in shares of BB&T Corporation by 6.2% in the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after buying an additional 144 shares during the period. Liberty Capital Management Inc. acquired a new stake in shares of BB&T Corporation in the 2nd quarter valued at about $136,000. Guardian Life Insurance Co. of America grew its stake in shares of BB&T Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares during the period. Finally, Oakworth Capital Inc. grew its stake in shares of BB&T Corporation by 51.1% in the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after buying an additional 1,045 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.
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BB&T Corporation (BBT) opened at 44.65 on Wednesday. The company has a market cap of $36.08 billion, a P/E ratio of 18.15 and a beta of 1.08. BB&T Corporation has a 12 month low of $36.80 and a 12 month high of $49.88. The firm has a 50-day moving average price of $46.08 and a 200 day moving average price of $44.85.
BB&T Corporation declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $0.33 dividend. The ex-dividend date was Wednesday, August 9th. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. BB&T Corporation’s dividend payout ratio (DPR) is 49.25%.
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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