BB&T Corporation (BBT) Declares $0.33 Quarterly Dividend
BB&T Corporation (NYSE:BBT) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Friday, November 10th will be paid a dividend of 0.33 per share by the insurance provider on Friday, December 1st. This represents a $1.32 dividend on an annualized basis and a yield of 2.78%.
BB&T Corporation has raised its dividend payment by an average of 0.9% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. BB&T Corporation has a dividend payout ratio of 42.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect BB&T Corporation to earn $3.44 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 38.4%.
Shares of BB&T Corporation (NYSE BBT) traded down 0.19% during midday trading on Monday, reaching $47.41. 3,891,477 shares of the company’s stock were exchanged. The company’s 50 day moving average is $45.91 and its 200-day moving average is $44.95. The stock has a market cap of $38.31 billion, a PE ratio of 17.70 and a beta of 1.07. BB&T Corporation has a 12 month low of $38.23 and a 12 month high of $49.88.
BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.76 earnings per share. Equities analysts forecast that BB&T Corporation will post $2.78 EPS for the current fiscal year.
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BB&T Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total transaction of $410,556.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction that occurred on 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. Insiders sold 55,610 shares of company stock worth $2,618,364 over the last quarter. 0.36% of the stock is currently owned by company insiders.
Several research analysts have commented on the company. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. BMO Capital Markets reissued a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 21st. Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Friday, July 21st. FBR & Co set a $48.00 price target on BB&T Corporation and gave the stock a “hold” rating in a report on Friday. Finally, Jefferies Group LLC restated a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a report on Friday, July 14th. 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. BB&T Corporation presently has a consensus rating of “Hold” and a consensus price target of $49.18.
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.
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