BB&T (NYSE:BBT) has been assigned a $55.00 target price by equities research analysts at Sandler O’Neill in a report released on Friday. The brokerage presently has a “hold” rating on the insurance provider’s stock. Sandler O’Neill’s target price points to a potential upside of 0.36% from the stock’s previous close.
BBT has been the subject of several other reports. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. UBS Group raised BB&T from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 9th. Stephens raised BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Thursday, October 5th. JPMorgan Chase & Co. increased their price objective on BB&T from $48.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Finally, SunTrust Banks reissued a “buy” rating and issued a $52.00 price objective on shares of BB&T in a research note on Friday, October 20th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $53.81.
BB&T (BBT) opened at $54.80 on Friday. BB&T has a 52 week low of $41.17 and a 52 week high of $55.70. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 0.87. The firm has a market capitalization of $43,232.87, a P/E ratio of 17.45, a P/E/G ratio of 1.66 and a beta of 0.99.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.86 billion. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. analysts anticipate that BB&T will post 3.73 earnings per share for the current year.
In other news, insider Donna C. Goodrich sold 26,869 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $49.13, for a total value of $1,320,073.97. Following the completion of the transaction, the insider now directly owns 78,589 shares of the company’s stock, valued at $3,861,077.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donna C. Goodrich sold 10,799 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total value of $505,069.23. Following the completion of the transaction, the insider now directly owns 47,182 shares of the company’s stock, valued at $2,206,702.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,295 shares of company stock valued at $3,347,679. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of BB&T by 1.7% in the second quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock valued at $778,031,000 after acquiring an additional 291,257 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in BB&T by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock valued at $783,870,000 after purchasing an additional 541,257 shares during the period. Bank of New York Mellon Corp grew its holdings in BB&T by 1.0% during the third 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 period. Burgundy Asset Management Ltd. grew its holdings in BB&T by 0.3% during the third quarter. Burgundy Asset Management Ltd. now owns 8,382,444 shares of the insurance provider’s stock valued at $393,472,000 after purchasing an additional 27,138 shares during the period. Finally, American Century Companies Inc. grew its holdings in BB&T by 12.6% during the third quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock valued at $381,012,000 after purchasing an additional 910,225 shares during the period. 65.28% of the stock is owned by institutional investors.
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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.