$2.92 Billion in Sales Expected for BB&T Co. (BBT) This Quarter

Wall Street analysts expect that BB&T Co. (NYSE:BBT) will report $2.92 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for BB&T’s earnings, with the highest sales estimate coming in at $2.95 billion and the lowest estimate coming in at $2.89 billion. BB&T reported sales of $2.81 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 18th.

According to Zacks, analysts expect that BB&T will report full-year sales of $11.93 billion for the current fiscal year, with estimates ranging from $11.89 billion to $12.00 billion. For the next financial year, analysts forecast that the firm will report sales of $12.21 billion, with estimates ranging from $12.04 billion to $12.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow BB&T.

BB&T (NYSE:BBT) last announced its earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis.

Several research analysts recently weighed in on BBT shares. B. Riley set a $56.00 target price on BB&T and gave the stock a “buy” rating in a research note on Monday, October 15th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. BMO Capital Markets dropped their target price on BB&T from $58.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Finally, Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, October 23rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $53.96.

BBT stock traded up $0.33 on Monday, hitting $50.57. 7,548,140 shares of the company’s stock were exchanged, compared to its average volume of 6,084,600. BB&T has a 12-month low of $40.68 and a 12-month high of $56.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $38.72 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Tuesday, February 12th. This represents a $1.62 annualized dividend and a yield of 3.20%. BB&T’s payout ratio is presently 40.00%.

In other news, Director Patrick C. Graney III purchased 4,200 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were acquired at an average price of $47.56 per share, for a total transaction of $199,752.00. Following the purchase, the director now owns 4,200 shares in the company, valued at $199,752. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of BBT. Financial Advantage Inc. acquired a new position in shares of BB&T in the 4th quarter valued at about $27,000. Athena Capital Advisors LLC acquired a new position in shares of BB&T in the 4th quarter valued at about $28,000. Destination Wealth Management lifted its holdings in shares of BB&T by 375.0% in the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after buying an additional 570 shares during the period. IMS Capital Management acquired a new position in shares of BB&T in the 3rd quarter valued at about $39,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of BB&T by 620.5% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 807 shares of the insurance provider’s stock valued at $35,000 after buying an additional 695 shares during the period. Institutional investors and hedge funds own 64.39% 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.

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