BB&T Corporation (BBT) Given Average Recommendation of “Hold” by Brokerages
BB&T Corporation (NYSE:BBT) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $47.08.
Several equities analysts have recently commented on BBT shares. BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Hilliard Lyons raised shares of BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their price target for the company from $51.00 to $49.00 in a research note on Monday, April 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th.
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Shares of BB&T Corporation (BBT) traded down 0.15% during trading on Friday, hitting $46.09. 942,338 shares of the stock were exchanged. BB&T Corporation has a 52-week low of $36.75 and a 52-week high of $49.88. The firm has a 50 day moving average of $46.43 and a 200-day moving average of $45.22. The stock has a market cap of $37.24 billion, a PE ratio of 17.20 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that BB&T Corporation will post $2.84 earnings per share for the current fiscal year.
BB&T Corporation declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a $0.33 dividend. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.25%.
In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of BBT. Cape Cod Five Cents Savings Bank boosted its stake in shares of BB&T Corporation by 1.4% in the first quarter. Cape Cod Five Cents Savings Bank now owns 114,411 shares of the insurance provider’s stock worth $5,114,000 after buying an additional 1,565 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of BB&T Corporation during the first quarter worth approximately $486,000. Oakbrook Investments LLC boosted its stake in shares of BB&T Corporation by 96.4% in the first quarter. Oakbrook Investments LLC now owns 83,750 shares of the insurance provider’s stock worth $3,744,000 after buying an additional 41,100 shares during the last quarter. Boys Arnold & Co. Inc. boosted its stake in shares of BB&T Corporation by 2.0% in the first quarter. Boys Arnold & Co. Inc. now owns 36,103 shares of the insurance provider’s stock worth $1,614,000 after buying an additional 707 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of BB&T Corporation during the first quarter worth approximately $682,000. 64.46% of the stock is currently 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.
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