BB&T Co. Forecasted to Earn FY2019 Earnings of $3.65 Per Share (BBT)
BB&T Co. (NYSE:BBT) – Equities research analysts at Jefferies Group increased their FY2019 EPS estimates for shares of BB&T in a report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the insurance provider will post earnings of $3.65 per share for the year, up from their prior forecast of $3.60. Jefferies Group has a “Hold” rating and a $49.00 price objective on the stock.
BB&T (NYSE:BBT) last issued its earnings results 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. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 earnings per share.
Shares of BB&T (NYSE BBT) traded up $0.53 on Tuesday, hitting $50.28. 3,943,187 shares of the stock were exchanged, compared to its average volume of 4,391,395. The stock has a market capitalization of $39,296.16, a price-to-earnings ratio of 16.44, a P/E/G ratio of 2.29 and a beta of 0.99. BB&T has a 1 year low of $41.17 and a 1 year high of $51.11. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85.
Institutional investors have recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC bought a new position in BB&T in the second quarter worth about $111,000. Community Bank N.A. raised its holdings in BB&T by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares in the last quarter. Oakworth Capital Inc. raised its holdings in BB&T by 51.1% in the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 1,045 shares in the last quarter. Highstreet Asset Management Inc. raised its holdings in BB&T by 105.3% in the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 1,566 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in BB&T in the second quarter worth about $170,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
In other BB&T news, Chairman Kelly S. King sold 66,372 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $47.53, for a total value of $3,154,661.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donta L. Wilson sold 4,250 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.51, for a total transaction of $201,917.50. The disclosure for this sale can be found here. Insiders sold 182,150 shares of company stock valued at $8,712,859 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.33 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.63%. BB&T’s payout ratio is currently 49.07%.
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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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