BB&T (NYSE:BBT) had its price target lifted by Argus to $60.00 in a research report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the insurance provider’s stock. Argus’ target price would indicate a potential upside of 9.49% from the stock’s current price. The analysts noted that the move was a valuation call.
BBT has been the subject of several other reports. Zacks Investment Research cut BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Morgan Stanley raised their price objective on BB&T from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 20th. BMO Capital Markets raised their price objective on BB&T from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Barclays raised 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, January 2nd. Finally, Vining Sparks restated a “buy” rating and issued a $59.00 price objective on shares of BB&T in a research note on Monday, January 8th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.81.
Shares of BB&T (NYSE:BBT) traded up $0.66 during trading hours on Friday, hitting $54.80. The stock had a trading volume of 5,735,440 shares, compared to its average volume of 3,750,000. BB&T has a 1 year low of $41.17 and a 1 year high of $55.70. The stock has a market capitalization of $43,230.00, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 0.87.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.04. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. research analysts expect that BB&T will post 3.67 EPS for the current fiscal year.
In other news, Director Jennifer S. Banner sold 11,508 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $48.60, for a total value of $559,288.80. Following the completion of the sale, the director now directly owns 20,300 shares in the company, valued at $986,580. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 12,357 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $47.70, for a total value of $589,428.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,295 shares of company stock valued at $3,347,679. 0.36% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Archford Capital Strategies LLC increased its position in shares of BB&T by 199.9% in the second quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock valued at $191,000 after buying an additional 1,499 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of BB&T by 102.6% in the fourth quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after buying an additional 1,193 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of BB&T in the second quarter valued at approximately $111,000. Highstreet Asset Management Inc. increased its position in shares of BB&T by 105.3% in the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after buying an additional 1,566 shares in the last quarter. Finally, Cable Hill Partners LLC increased its position in shares of BB&T by 7,184.0% in the third quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock valued at $171,000 after buying an additional 3,592 shares in the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
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.