BB&T Corporation (BBT) Given a $48.00 Price Target at FBR & Co
BB&T Corporation (NYSE:BBT) received a $48.00 price target from equities research analysts at FBR & Co in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the insurance provider’s stock. FBR & Co’s target price points to a potential upside of 1.05% from the company’s current price. FBR & Co also issued estimates for BB&T Corporation’s Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.82 EPS, Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $0.88 EPS and FY2019 earnings at $3.50 EPS.
A number of other research firms have also recently commented on BBT. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Macquarie raised 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. Wells Fargo & Company began coverage on BB&T Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price target on the stock. Citigroup Inc. reissued a “neutral” rating and set a $49.00 price target (up from $47.00) on shares of BB&T Corporation in a report on Monday, October 9th. Finally, Zacks Investment Research cut BB&T Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. BB&T Corporation currently has an average rating of “Hold” and a consensus price target of $49.25.
BB&T Corporation (NYSE BBT) traded up 1.63% during trading on Friday, reaching $47.50. The company had a trading volume of 5,140,316 shares. The firm has a market capitalization of $38.38 billion, a P/E ratio of 17.73 and a beta of 1.07. BB&T Corporation has a one year low of $38.23 and a one year high of $49.88. The firm’s 50-day moving average price is $45.91 and its 200 day moving average price is $44.95.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.78. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. Equities analysts forecast that BB&T Corporation will post $2.81 earnings per share for the current fiscal year.
BB&T Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, insider David Hudson Weaver sold 8,752 shares of BB&T Corporation 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction dated 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 transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glassman Wealth Services grew its position in BB&T Corporation by 0.4% in the second quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after acquiring an additional 18 shares in the last quarter. Guardian Life Insurance Co. of America grew its position 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 worth $140,000 after acquiring an additional 21 shares in the last quarter. WMS Partners LLC grew its position in BB&T Corporation by 0.8% in the second quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after acquiring an additional 36 shares in the last quarter. Canal Capital Management LLC grew its position in BB&T Corporation by 0.6% in the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after acquiring an additional 48 shares in the last quarter. Finally, Sii Investments Inc. WI grew its position in BB&T Corporation by 0.9% in the second quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
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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