BB&T Corporation (NYSE:BBT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “BB&T’s shares have outperformed the industry over the past three months. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Strategic acquisitions are persistently supporting the company expand footprint as well as fuel additional profitability and consistent growth in loans and deposits along with higher rates should further lead to an increase in revenues. Nevertheless, escalating costs owing to acquisitions and subsequent integrations are expected to hurt the bank’s bottom-line growth. The company’s exposure to risky loans also continues to be a near-term concern. Further, a stretched valuation indicates limited upside potential for the stock.”

BBT has been the subject of several other research reports. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 price objective on shares of BB&T Corporation in a research note on Friday, June 30th. Stephens upgraded BB&T Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Thursday, October 5th. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Citigroup Inc. reiterated a “neutral” rating and issued a $49.00 price objective (up previously from $47.00) on shares of BB&T Corporation in a research note on Monday. Finally, Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $47.88.

BB&T Corporation (NYSE:BBT) traded up 0.48% during trading on Tuesday, hitting $47.71. 1,928,764 shares of the company were exchanged. The stock has a market capitalization of $38.55 billion, a PE ratio of 17.81 and a beta of 1.07. The firm’s 50 day moving average price is $45.74 and its 200-day moving average price is $44.83. BB&T Corporation has a 1-year low of $37.40 and a 1-year high of $49.88.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The business 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 business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Equities analysts predict that BB&T Corporation will post $2.81 EPS for the current year.

BB&T Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the business’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 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 $1,642,131.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Signature Estate & Investment Advisors LLC purchased a new stake in BB&T Corporation in the second quarter valued at approximately $111,000. Community Bank N.A. lifted its stake in BB&T Corporation by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after buying an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in BB&T Corporation in the second quarter valued at approximately $136,000. Guardian Life Insurance Co. of America lifted its stake in 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 valued at $140,000 after buying an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its stake in BB&T Corporation by 51.1% in the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after buying an additional 1,045 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

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

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