BB&T Corporation (BBT) Set to Announce Quarterly Earnings on Thursday
BB&T Corporation (NYSE:BBT) is set to issue its quarterly earnings data before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $0.79 per share for the quarter.
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 Zacks’ consensus estimate of $0.77. The company had revenue of $2.86 billion for 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 revenue for the quarter 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. On average, analysts expect BB&T Corporation to post $2.81 EPS for the current fiscal year and $3.44 EPS for the next fiscal year.
Shares of BB&T Corporation (NYSE:BBT) opened at 47.35 on Thursday. The company has a market capitalization of $38.26 billion, a PE ratio of 17.67 and a beta of 1.07. The stock’s 50 day moving average price is $45.77 and its 200-day moving average price is $44.84. BB&T Corporation has a 1-year low of $37.40 and a 1-year high of $49.88.
BB&T Corporation declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $1.88 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,610 shares of company stock valued at $2,618,364. Company insiders own 0.36% of the company’s stock.
A number of brokerages have recently issued reports on BBT. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Wells Fargo & Company started coverage on BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price on the stock. Zacks Investment Research downgraded BB&T Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Stephens raised BB&T Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Thursday, October 5th. Finally, Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. BB&T Corporation presently has an average rating of “Hold” and a consensus price target of $47.88.
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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