BB&T (NYSE:BBT) Given a $51.00 Price Target by Morgan Stanley Analysts

BB&T (NYSE:BBT) has been given a $51.00 target price by investment analysts at Morgan Stanley in a report issued on Friday, TipRanks reports. The firm presently has a “hold” rating on the insurance provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 9.37% from the company’s current price.

A number of other brokerages have also recently issued reports on BBT. JPMorgan Chase & Co. reduced their price objective on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. UBS Group reduced their price target on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Deutsche Bank set a $59.00 price target on shares of BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.86.

BBT stock traded down $0.72 during midday trading on Friday, reaching $46.63. The company’s stock had a trading volume of 5,079,200 shares, compared to its average volume of 5,196,508. BB&T has a 52 week low of $40.68 and a 52 week high of $53.08. The stock has a market capitalization of $35.89 billion, a PE ratio of 11.51, a PEG ratio of 1.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.87 and a current ratio of 0.88. The stock’s 50-day moving average price is $49.66.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts predict that BB&T will post 4.23 earnings per share for the current year.

In related news, insider David Hudson Weaver sold 21,705 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $51.44, for a total transaction of $1,116,505.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Louis B. Lynn sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its stake in BB&T by 34.3% in the 1st quarter. Advisory Services Network LLC now owns 49,790 shares of the insurance provider’s stock valued at $2,317,000 after buying an additional 12,729 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in shares of BB&T by 4.4% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 29,093 shares of the insurance provider’s stock worth $1,354,000 after purchasing an additional 1,228 shares during the last quarter. Raymond James & Associates increased its stake in shares of BB&T by 13.5% during the 1st quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock worth $114,846,000 after purchasing an additional 292,660 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of BB&T by 83.2% during the 1st quarter. Parallel Advisors LLC now owns 3,107 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in shares of BB&T by 26.7% during the 1st quarter. Advisor Group Inc. now owns 78,824 shares of the insurance provider’s stock worth $3,670,000 after purchasing an additional 16,608 shares during the last quarter. Hedge funds and other institutional investors own 68.08% of the company’s stock.

About BB&T

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

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Analyst Recommendations for BB&T (NYSE:BBT)

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