BB&T Corporation (NYSE:BBT) – Jefferies Group lowered their FY2017 earnings per share estimates for shares of BB&T Corporation in a research report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the insurance provider will earn $3.15 per share for the year, down from their prior estimate of $3.16. Jefferies Group currently has a “Hold” rating and a $49.00 target price on the stock. Jefferies Group also issued estimates for BB&T Corporation’s Q4 2017 earnings at $0.80 EPS, Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.84 EPS and Q4 2018 earnings at $0.89 EPS.

BB&T Corporation (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. BB&T Corporation’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share.

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Several other analysts also recently weighed in on the stock. BidaskClub downgraded shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Friday, July 21st. BMO Capital Markets reissued a “hold” rating and issued a $48.00 price target on shares of BB&T Corporation in a research note on Friday, June 30th. Robert W. Baird reissued a “hold” rating and issued a $45.00 price target on shares of BB&T Corporation in a research note on Friday, August 25th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price target (up from $47.00) on shares of BB&T Corporation in a research note on Monday. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.88.

Shares of BB&T Corporation (NYSE:BBT) opened at 47.71 on Wednesday. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88. The company has a 50-day moving average price of $45.74 and a 200-day moving average price of $44.83. The firm has a market capitalization of $38.55 billion, a P/E ratio of 17.81 and a beta of 1.07.

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

In related news, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were 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 owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction dated 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. Insiders have sold 55,610 shares of company stock worth $2,618,364 in the last three months. 0.36% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Burgundy Asset Management Ltd. lifted its stake in shares of BB&T Corporation by 3.4% in the second quarter. Burgundy Asset Management Ltd. now owns 8,355,306 shares of the insurance provider’s stock worth $379,414,000 after buying an additional 274,186 shares in the last quarter. Griffin Asset Management Inc. bought a new position in shares of BB&T Corporation in the second quarter worth approximately $4,735,000. RNC Capital Management LLC lifted its stake in shares of BB&T Corporation by 2.6% in the second quarter. RNC Capital Management LLC now owns 71,466 shares of the insurance provider’s stock worth $3,245,000 after buying an additional 1,825 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of BB&T Corporation by 17.8% in the second quarter. Toronto Dominion Bank now owns 279,575 shares of the insurance provider’s stock worth $12,693,000 after buying an additional 42,259 shares in the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in shares of BB&T Corporation by 199.9% in the second quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock worth $191,000 after buying an additional 1,499 shares in the last quarter. Hedge funds and other 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.

Earnings History and Estimates for BB&T Corporation (NYSE:BBT)

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