Zacks Reaffirms “Neutral” Rating for BB&T Corp. (BBT)
BB&T Corp. (NYSE:BBT)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Monday. They currently have a $38.50 target price on the stock. Zacks‘s price objective would suggest a potential upside of 3.94% from the company’s current price.
Zacks’ analyst wrote, “BB&T’s second-quarter 2014 earnings lagged the Zacks Consensus Estimate owing to a decline in revenues and higher operating expenses. Nevertheless, the negatives were partially mitigated by lower provision from loan losses. We believe that the company s growth trajectory, with steady progress on both the organic and inorganic fronts, remains impressive. Further, the company s strong capital position and improved credit quality are expected to supplement growth going forward. However, sluggish economic recovery, elevated expenses, a still low interest rate environment, wide exposure to problem assets and various regulatory issues will likely make it difficult for BB&T to significantly improve its financials in the near term.”
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. upgraded shares of BB&T Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 6th. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of BB&T Corp. in a research note on Tuesday, July 22nd. They now have a $41.00 price target on the stock, down previously from $42.00. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of BB&T Corp. in a research note on Tuesday, July 22nd. They now have a $43.00 price target on the stock, down previously from $44.00. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. BB&T Corp. has a consensus rating of “Hold” and an average price target of $40.86.
Shares of BB&T Corp. (NYSE:BBT) traded up 0.84% on Monday, hitting $37.35. The stock had a trading volume of 1,016,025 shares. BB&T Corp. has a 1-year low of $32.65 and a 1-year high of $41.04. The stock has a 50-day moving average of $37.61 and a 200-day moving average of $38.20. The company has a market cap of $26.876 billion and a price-to-earnings ratio of 15.43.
BB&T Corp. (NYSE:BBT) last issued its quarterly earnings data on Monday, July 21st. The company reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.04. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company posted $0.77 earnings per share. BB&T Corp.’s revenue was down 7.9% compared to the same quarter last year. Analysts expect that BB&T Corp. will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 8th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Wednesday, August 6th.
BB&T Corporation (NYSE:BBT) is a financial holding company.
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