Jefferies Group Comments on BB&T Co.’s Q1 2018 Earnings (BBT)

BB&T Co. (NYSE:BBT) – Equities research analysts at Jefferies Group increased their Q1 2018 earnings per share estimates for shares of BB&T in a report released on Thursday. Jefferies Group analyst K. Usdin now anticipates that the insurance provider will earn $0.94 per share for the quarter, up from their prior estimate of $0.87. Jefferies Group also issued estimates for BB&T’s Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.05 EPS, FY2018 earnings at $4.00 EPS and FY2019 earnings at $4.30 EPS.

BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year.

Several other equities analysts have also issued reports on BBT. Stephens upgraded BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Thursday, October 5th. Citigroup reiterated a “neutral” rating and issued a $49.00 price target (up previously from $47.00) on shares of BB&T in a research note on Monday, October 9th. Zacks Investment Research lowered BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. SunTrust Banks reiterated a “buy” rating and issued a $50.00 price target on shares of BB&T in a research note on Thursday, October 12th. Finally, Oppenheimer restated a “hold” rating on shares of BB&T in a research report on Friday, October 20th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BB&T has an average rating of “Hold” and a consensus target price of $53.81.

BB&T (NYSE:BBT) opened at $54.80 on Monday. BB&T has a 52 week low of $41.17 and a 52 week high of $55.70. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $42,853.93, a price-to-earnings ratio of 20.00, a PEG ratio of 1.63 and a beta of 0.99.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Archford Capital Strategies LLC lifted its stake in shares of BB&T by 199.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock valued at $191,000 after purchasing an additional 1,499 shares during the period. Kistler Tiffany Companies LLC lifted its stake in shares of BB&T by 102.6% in the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 1,193 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of BB&T in the 2nd quarter valued at about $111,000. Highstreet Asset Management Inc. lifted its stake in shares of BB&T by 105.3% in the 3rd quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 1,566 shares during the period. Finally, Cable Hill Partners LLC lifted its stake in shares of BB&T by 7,184.0% in the 3rd quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock valued at $171,000 after purchasing an additional 3,592 shares during the period. 65.30% of the stock is currently owned by hedge funds and other institutional investors.

In other BB&T news, insider Robert Jerome Johnson, Jr. sold 12,357 shares of BB&T stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $47.70, for a total transaction of $589,428.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP W Bennett Bradley sold 7,762 shares of BB&T stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $48.16, for a total value of $373,817.92. Following the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at $1,172,262.56. The disclosure for this sale can be found here. Insiders have sold a total of 69,295 shares of company stock worth $3,347,679 in the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

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About BB&T

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.

Earnings History and Estimates for BB&T (NYSE:BBT)

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