BB&T Corporation’s (BBT) Hold Rating Reiterated at Jefferies Group LLC
BB&T Corporation (NYSE:BBT)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $49.00 price objective on the insurance provider’s stock. Jefferies Group LLC’s price target points to a potential upside of 11.01% from the company’s current price.
BBT has been the subject of several other reports. Robert W. Baird reissued a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a report on Friday, August 25th. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a report on Friday, August 4th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. BMO Capital Markets reissued a “hold” rating and set a $48.00 price objective on shares of BB&T Corporation in a report on Friday, June 30th. Finally, Wells Fargo & Company initiated coverage on BB&T Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. BB&T Corporation presently has an average rating of “Hold” and a consensus price target of $47.06.
Shares of BB&T Corporation (NYSE BBT) traded up 0.16% during midday trading on Friday, hitting $44.14. 7,616,071 shares of the stock were exchanged. The firm has a market cap of $35.67 billion, a P/E ratio of 17.94 and a beta of 1.08. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88. The firm has a 50 day moving average of $46.23 and a 200 day moving average of $44.97.
BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts forecast that BB&T Corporation will post $2.83 EPS for the current fiscal year.
BB&T Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the sale, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Insiders sold a total of 55,610 shares of company stock worth $2,618,364 in the last 90 days. Company insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBT. Eagle Asset Management bought a new stake in BB&T Corporation in the 3rd quarter valued at approximately $62,622,000. Janus Capital Management lifted its stake in BB&T Corporation by 29.0% in the 3rd quarter. Janus Capital Management now owns 556,957 shares of the insurance provider’s stock valued at $19,827,000 after acquiring an additional 125,282 shares in the last quarter. Southport Capital Management lifted its stake in BB&T Corporation by 3.9% in the 4th quarter. Southport Capital Management now owns 22,712 shares of the insurance provider’s stock valued at $859,000 after acquiring an additional 860 shares in the last quarter. Assetmark bought a new stake in BB&T Corporation in the 3rd quarter valued at approximately $0. Finally, Capital Investment Services of America lifted its stake in BB&T Corporation by 0.9% in the 4th quarter. Capital Investment Services of America now owns 301,236 shares of the insurance provider’s stock valued at $11,390,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 64.30% of the company’s stock.
About BB&T Corporation
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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