BB&T Co. (BBT) Issues Quarterly Earnings Results
BB&T Co. (NYSE:BBT) released its quarterly earnings results on Thursday. The insurance provider reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The business earned $2.78 billion during the quarter, compared to analyst estimates of $2.80 billion. BB&T Co. had a net margin of 20.65% and a return on equity of 9.37%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS.
BB&T Co. (NYSE:BBT) opened at 42.63 on Thursday. The stock has a 50 day moving average of $45.51 and a 200-day moving average of $44.52. The company has a market capitalization of $34.46 billion, a P/E ratio of 15.39 and a beta of 1.05. BB&T Co. has a 52-week low of $32.85 and a 52-week high of $49.88.
In related news, CFO Daryl N. Bible sold 101,902 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $45.27, for a total transaction of $4,613,103.54. Following the transaction, the chief financial officer now owns 208,241 shares in the company, valued at approximately $9,427,070.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Barbara F. Duck sold 160,595 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $45.28, for a total transaction of $7,271,741.60. Following the transaction, the insider now owns 137,152 shares in the company, valued at approximately $6,210,242.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 532,930 shares of company stock worth $24,248,679. 0.88% of the stock is owned by corporate insiders.
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A number of research firms recently weighed in on BBT. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of BB&T Co. in a report on Saturday, January 21st. Royal Bank of Canada reaffirmed a “buy” rating and set a $50.00 price target on shares of BB&T Co. in a report on Tuesday, April 4th. FIG Partners raised their price target on shares of BB&T Co. to $57.00 in a report on Thursday, December 22nd. Zacks Investment Research lowered shares of BB&T Co. from a “buy” rating to a “hold” rating in a report on Friday, December 30th. Finally, Hilliard Lyons lowered shares of BB&T Co. from a “buy” rating to a “neutral” rating and set a $51.00 price target for the company. in a report on Monday, March 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.92.
BB&T Co. 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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