BB&T Corporation (NYSE:BBT) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Thursday, Marketbeat reports. The brokerage presently has a $53.00 price target on the insurance provider’s stock. Stephens’ price target would indicate a potential upside of 11.30% from the stock’s current price.

BBT has been the topic of several other reports. BMO Capital Markets restated a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a report on Friday, June 30th. BidaskClub upgraded shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Hilliard Lyons cut shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Friday, July 21st. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target on the stock in a report on Friday, August 4th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of BB&T Corporation in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. BB&T Corporation has a consensus rating of “Hold” and a consensus target price of $47.80.

Shares of BB&T Corporation (NYSE:BBT) traded up 2.70% on Thursday, hitting $47.62. The company had a trading volume of 4,513,672 shares. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88. The company has a market cap of $38.48 billion, a price-to-earnings ratio of 17.78 and a beta of 1.07. The company has a 50 day moving average of $45.58 and a 200-day moving average of $44.74.

BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting 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 business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company posted $0.71 EPS. BB&T Corporation’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that BB&T Corporation will post $2.81 earnings per share for the current year.

BB&T Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $1.88 billion in shares. This buyback authorization permits the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total transaction of $410,556.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,610 shares of company stock valued at $2,618,364. Company insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in BBT. BlackRock Inc. raised its position in shares of BB&T Corporation by 2,875.1% during the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after buying an additional 45,740,906 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of BB&T Corporation by 3,687.8% during the second quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock valued at $185,500,000 after buying an additional 3,977,166 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BB&T Corporation by 3.2% during the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the last quarter. Janus Capital Management LLC raised its position in shares of BB&T Corporation by 46.8% during the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after buying an additional 1,062,590 shares during the last quarter. Finally, FMR LLC raised its position in shares of BB&T Corporation by 214.8% during the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after buying an additional 998,898 shares during the last quarter. 64.25% 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)

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