BB&T Corporation (NYSE:BBT)‘s stock had its “buy” rating reissued by SunTrust Banks, Inc. in a report issued on Thursday. They presently have a $50.00 target price on the insurance provider’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 6.72% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. 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 equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. BB&T Corporation currently has an average rating of “Hold” and a consensus price target of $48.00.

BB&T Corporation (NYSE:BBT) traded down 1.06% during mid-day trading on Thursday, reaching $46.85. 2,602,845 shares of the company were exchanged. BB&T Corporation has a 1-year low of $37.40 and a 1-year high of $49.88. The stock has a market capitalization of $37.86 billion, a price-to-earnings ratio of 17.49 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 (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the business posted $0.71 EPS. BB&T Corporation’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that BB&T Corporation will post $2.81 EPS for the current fiscal year.

BB&T Corporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding 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 typically an indication that the company’s leadership believes its stock is undervalued.

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In other 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 transaction, 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 filing with the SEC, which is available at the SEC website. 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 ninety days, insiders have sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of BB&T Corporation by 3.4% in the first quarter. Legal & General Group Plc now owns 3,892,901 shares of the insurance provider’s stock valued at $174,020,000 after purchasing an additional 126,549 shares during the period. HRT Financial LLC increased its holdings in shares of BB&T Corporation by 26.2% in the first quarter. HRT Financial LLC now owns 9,179 shares of the insurance provider’s stock valued at $410,000 after purchasing an additional 1,908 shares during the period. Bank of America Corp DE increased its holdings in shares of BB&T Corporation by 0.3% in the first quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock valued at $570,655,000 after purchasing an additional 43,867 shares during the period. Peapack Gladstone Financial Corp increased its holdings in shares of BB&T Corporation by 4.8% in the first quarter. Peapack Gladstone Financial Corp now owns 270,317 shares of the insurance provider’s stock valued at $12,083,000 after purchasing an additional 12,302 shares during the period. Finally, Shelter Mutual Insurance Co increased its holdings in shares of BB&T Corporation by 145.5% in the second quarter. Shelter Mutual Insurance Co now owns 84,200 shares of the insurance provider’s stock valued at $3,823,000 after purchasing an additional 49,900 shares during the period. 64.25% of the stock is currently 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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