BB&T Corporation (NYSE:BBT) had its target price increased by J P Morgan Chase & Co from $48.50 to $49.00 in a research report report published on Wednesday morning. The brokerage currently has a neutral rating on the insurance provider’s stock.
A number of other brokerages also recently issued reports on BBT. Zacks Investment Research upgraded shares of BB&T Corporation from a sell rating to a hold rating in a research report on Friday, October 27th. BidaskClub upgraded shares of BB&T Corporation from a hold rating to a buy rating in a research report on Tuesday, August 8th. Macquarie upgraded shares of BB&T Corporation from an underperform rating to a neutral rating and set a $47.00 price target on the stock in a research report on Friday, August 4th. Citigroup Inc. restated a neutral rating and issued a $49.00 price target (up previously from $47.00) on shares of BB&T Corporation in a research report on Monday, October 9th. Finally, Wells Fargo & Company began coverage on shares of BB&T Corporation in a research report on Wednesday, August 9th. They issued a market perform rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $49.17.
BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. BB&T Corporation had a net margin of 19.42% and a return on equity of 9.64%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, November 9th. BB&T Corporation’s payout ratio is 49.07%.
In other BB&T Corporation news, insider Donna C. Goodrich sold 26,869 shares of the stock in a transaction 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 owns 78,589 shares in the company, valued at $3,861,077.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher L. Henson sold 42,233 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $47.56, for a total value of $2,008,601.48. Following the completion of the transaction, the insider now owns 207,620 shares of the company’s stock, valued at approximately $9,874,407.20. The disclosure for this sale can be found here. Insiders sold 180,103 shares of company stock valued at $8,618,346 in the last ninety days. 0.36% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in BB&T Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after purchasing an additional 1,325,018 shares in the last quarter. BlackRock Inc. raised its holdings in BB&T Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock worth $2,166,682,000 after purchasing an additional 381,915 shares in the last quarter. Macquarie Group Ltd. raised its holdings in BB&T Corporation by 1.7% in the second quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock worth $778,031,000 after purchasing an additional 291,257 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in BB&T Corporation by 3.5% in the second quarter. First Eagle Investment Management LLC now owns 16,158,157 shares of the insurance provider’s stock worth $733,742,000 after purchasing an additional 539,533 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in BB&T Corporation by 0.3% in the first quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock worth $570,655,000 after purchasing an additional 43,867 shares in the last quarter. Institutional investors and hedge funds own 65.82% of the company’s stock.
BB&T Corporation 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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