BB&T Corporation (NYSE:BBT) was upgraded by equities researchers at Macquarie from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

A number of other brokerages have also recently commented on BBT. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. FBR & Co reiterated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 14th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $51.00 to $49.00 in a report on Monday, April 24th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. BB&T Corporation currently has an average rating of “Hold” and an average price target of $47.43.

Shares of BB&T Corporation (NYSE:BBT) traded up 1.09% during mid-day trading on Friday, reaching $48.36. The company’s stock had a trading volume of 4,518,130 shares. The company has a market cap of $39.08 billion, a PE ratio of 18.05 and a beta of 1.07. BB&T Corporation has a 52-week low of $36.45 and a 52-week high of $49.88. The company has a 50-day moving average price of $45.29 and a 200 day moving average price of $45.09.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts expect that BB&T Corporation will post $2.83 earnings per share for the current year.

BB&T Corporation announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2017/08/06/macquarie-upgrades-bbt-corporation-bbt-to-neutral.html.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its stake in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. Jolley Asset Management LLC raised its stake in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares during the period. Canal Capital Management LLC raised its stake in shares of BB&T Corporation by 0.6% in the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares during the period. Quadrant Capital Group LLC raised its stake in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock worth $135,000 after buying an additional 79 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of BB&T Corporation by 1.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 7,470 shares of the insurance provider’s stock worth $334,000 after buying an additional 80 shares during the period. 64.42% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

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