BB&T (BBT) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of BB&T (NYSE:BBT) from a hold rating to a sell rating in a report released on Thursday.

A number of other analysts have also recently commented on BBT. Zacks Investment Research upgraded shares of BB&T from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Tuesday, October 23rd. Stephens restated a buy rating and issued a $59.00 price objective on shares of BB&T in a research report on Friday, July 20th. BMO Capital Markets reduced their target price on shares of BB&T from $59.00 to $58.00 and set an outperform rating for the company in a research note on Friday, July 20th. Piper Jaffray Companies reaffirmed a hold rating and issued a $52.00 target price on shares of BB&T in a research note on Friday, July 20th. Finally, FIG Partners lowered shares of BB&T from an outperform rating to a market perform rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $55.50.

Shares of BBT traded down $0.03 during trading hours on Thursday, reaching $49.17. The stock had a trading volume of 4,216,400 shares, compared to its average volume of 5,531,268. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. BB&T has a 52 week low of $45.73 and a 52 week high of $56.31. The stock has a market cap of $37.89 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.20 and a beta of 0.94.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, beating the Zacks’ 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 business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities research analysts expect that BB&T will post 3.82 earnings per share for the current fiscal year.

The business also recently announced 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 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, November 8th. BB&T’s payout ratio is presently 51.59%.

In related news, Director I. Patricia Henry sold 611 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of BB&T by 18.0% during the 2nd quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock worth $1,421,098,000 after buying an additional 4,304,522 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BB&T by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock worth $527,666,000 after buying an additional 547,692 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of BB&T by 10.5% during the 3rd quarter. American Century Companies Inc. now owns 9,054,595 shares of the insurance provider’s stock worth $439,510,000 after buying an additional 861,733 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of BB&T by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,401,213 shares of the insurance provider’s stock worth $423,757,000 after buying an additional 114,817 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in shares of BB&T during the 2nd quarter worth about $346,422,000. Institutional investors own 64.70% of the company’s stock.

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.

Featured Article: Initial Public Offering (IPO)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BB&T (NYSE:BBT)

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply