BB&T Corporation (NYSE:BBT) had its price target raised by Morgan Stanley from $47.00 to $50.00 in a research note issued on Friday. The brokerage presently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s target price indicates a potential upside of 5.26% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. FBR & Co set a $48.00 price objective on shares of BB&T Corporation and gave the company a “hold” rating in a report on Friday. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a report on Friday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $52.00 price objective on shares of BB&T Corporation in a report on Friday. Zacks Investment Research lowered shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up previously from $47.00) on shares of BB&T Corporation in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. BB&T Corporation has an average rating of “Hold” and an average price target of $49.25.

BB&T Corporation (NYSE BBT) traded up 1.63% during midday trading on Friday, hitting $47.50. 5,140,316 shares of the stock traded hands. The firm has a market cap of $38.38 billion, a PE ratio of 17.73 and a beta of 1.07. The stock has a 50-day moving average of $45.91 and a 200 day moving average of $44.95. BB&T Corporation has a 52-week low of $38.23 and a 52-week high of $49.88.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.78. BB&T Corporation had a net margin of 19.42% and a return on equity of 9.64%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. BB&T Corporation’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts forecast that BB&T Corporation will post $2.81 EPS for the current year.

BB&T Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.88 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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In other news, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total transaction of $410,556.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. 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. Corporate insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Glassman Wealth Services lifted its position in shares of BB&T Corporation by 0.4% during the second quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after purchasing an additional 18 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of BB&T Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. WMS Partners LLC increased its stake in shares of BB&T Corporation by 0.8% during the second quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after buying an additional 36 shares during the period. Canal Capital Management LLC increased its stake in shares of BB&T Corporation by 0.6% during the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares during the period. Finally, Sii Investments Inc. WI increased its stake in shares of BB&T Corporation by 0.9% during the second quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after buying an additional 58 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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

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