FY2017 EPS Estimates for BB&T Corporation (BBT) Reduced by Analyst
BB&T Corporation (NYSE:BBT) – Investment analysts at Jefferies Group dropped their FY2017 earnings per share estimates for BB&T Corporation in a research report issued to clients and investors on Thursday. Jefferies Group analyst K. Usdin now forecasts that the insurance provider will earn $3.04 per share for the year, down from their prior forecast of $3.15. Jefferies Group has a “Hold” rating and a $49.00 price objective on the stock. Jefferies Group also issued estimates for BB&T Corporation’s Q1 2018 earnings at $0.77 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.87 EPS and FY2018 earnings at $3.30 EPS.
A number of other research firms also recently commented on BBT. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $50.00 target price on shares of BB&T Corporation in a research report on Thursday, October 12th. Zacks Investment Research downgraded BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Wells Fargo & Company started coverage on BB&T Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a research report on Sunday. Finally, BMO Capital Markets boosted their target price on BB&T Corporation from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Friday. 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 a consensus rating of “Hold” and an average target price of $49.18.
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Shares of BB&T Corporation (NYSE:BBT) opened at 47.50 on Monday. The stock has a market cap of $38.38 billion, a PE 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 company’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 issued its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS.
BB&T Corporation declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Hudson Weaver sold 8,752 shares of the company’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. Insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glassman Wealth Services grew its stake 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 purchasing an additional 18 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake 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 purchasing an additional 21 shares in the last quarter. WMS Partners LLC grew its stake 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 purchasing an additional 36 shares in the last quarter. Canal Capital Management LLC grew its stake 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 purchasing an additional 48 shares in the last quarter. Finally, Sii Investments Inc. WI grew its stake 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 purchasing an additional 58 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
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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