Zacks: Brokerages Anticipate BB&T Co. (BBT) Will Announce Quarterly Sales of $2.84 Billion

Brokerages expect that BB&T Co. (NYSE:BBT) will report $2.84 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for BB&T’s earnings, with estimates ranging from $2.81 billion to $2.87 billion. BB&T reported sales of $2.78 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is expected to report its next quarterly earnings report on Thursday, April 19th.

On average, analysts expect that BB&T will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $11.47 billion to $11.75 billion. For the next year, analysts anticipate that the business will post sales of $12.00 billion per share, with estimates ranging from $11.79 billion to $12.24 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow BB&T.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.80 by $0.04. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.86 billion. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS.

BBT has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of BB&T to $64.00 and gave the company a “market perform” rating in a research report on Friday, January 19th. Morgan Stanley raised shares of BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock in a research report on Monday, January 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 price objective on shares of BB&T in a research report on Sunday, October 22nd. Barclays boosted their price objective on shares of BB&T from $51.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Raymond James Financial raised shares of BB&T from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 9th. Fifteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. BB&T has an average rating of “Hold” and an average price target of $53.52.

Shares of BB&T (NYSE:BBT) opened at $52.42 on Monday. The company has a market cap of $41,360.00, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.34 and a beta of 1.06. BB&T has a 52-week low of $41.17 and a 52-week high of $55.99. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.87 and a quick ratio of 0.86.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, February 8th. This represents a $1.32 annualized dividend and a yield of 2.52%. BB&T’s dividend payout ratio (DPR) is presently 48.18%.

In other news, insider Christopher L. Henson sold 48,524 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $54.75, for a total value of $2,656,689.00. Following the sale, the insider now directly owns 180,089 shares of the company’s stock, valued at approximately $9,859,872.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Donna C. Goodrich sold 10,799 shares of the company’s 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 completion of the sale, the insider now directly owns 47,182 shares in the company, valued at $2,206,702.14. The disclosure for this sale can be found here. Insiders have sold a total of 152,923 shares of company stock worth $8,274,322 over the last three months. Insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Archford Capital Strategies LLC raised its holdings 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 raised its holdings 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. Cerebellum GP LLC bought a new stake in shares of BB&T in the 4th quarter valued at about $123,000. Shamrock Asset Management LLC bought a new stake in shares of BB&T in the 4th quarter valued at about $123,000. Finally, Front Row Advisors LLC bought a new stake in shares of BB&T in the 4th quarter valued at about $142,000. 66.01% of the stock is currently owned by institutional investors.

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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.

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