BB&T Co. (NYSE:BBT) – Research analysts at Oppenheimer upped their FY2018 earnings per share (EPS) estimates for BB&T in a research report issued on Tuesday. Oppenheimer analyst B. Chittenden now forecasts that the insurance provider will post earnings per share of $3.54 for the year, up from their previous forecast of $3.36. Oppenheimer currently has a “Hold” rating on the stock.
Several other equities research analysts have also commented on the company. Robert W. Baird restated a “hold” rating and issued a $50.00 price objective on shares of BB&T in a research note on Wednesday. Barclays upped their price objective on BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $54.00 price objective on shares of BB&T in a research note on Friday, December 22nd. Finally, Wells Fargo & Co set a $51.00 price objective on BB&T and gave the stock a “hold” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $50.67.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, hitting the 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 return on equity of 9.64% and a net margin of 19.42%. BB&T’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Merchants Corp boosted its holdings in shares of BB&T by 9.1% during the 3rd quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock valued at $3,790,000 after purchasing an additional 6,753 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of BB&T during the 2nd quarter valued at about $2,118,000. Bank of Hawaii bought a new position in shares of BB&T during the 3rd quarter valued at about $657,000. BRYN MAWR TRUST Co boosted its holdings in shares of BB&T by 7.2% during the 2nd quarter. BRYN MAWR TRUST Co now owns 183,137 shares of the insurance provider’s stock valued at $8,317,000 after purchasing an additional 12,361 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock valued at $414,436,000 after purchasing an additional 86,200 shares during the last quarter. 65.28% of the stock is owned by institutional investors and hedge funds.
In other BB&T news, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donna C. Goodrich sold 10,799 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total transaction of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares of the company’s stock, valued at approximately $2,206,702.14. The disclosure for this sale can be found here. Insiders sold a total of 182,150 shares of company stock valued at $8,712,859 in the last ninety days. 0.36% of the stock is currently owned by insiders.
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BB&T 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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