Analysts expect BB&T Co. (NYSE:BBT) to announce sales of $2.92 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for BB&T’s earnings. The highest sales estimate is $2.95 billion and the lowest is $2.89 billion. BB&T reported sales of $2.81 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The business is expected to issue its next quarterly earnings report on Thursday, April 18th.
On average, analysts expect that BB&T will report full year sales of $11.93 billion for the current financial year, with estimates ranging from $11.89 billion to $12.00 billion. For the next fiscal year, analysts expect that the firm will post sales of $12.21 billion, with estimates ranging from $12.04 billion to $12.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for BB&T.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the company posted $0.83 earnings per share. The business’s revenue was up .5% on a year-over-year basis.
A number of equities analysts recently issued reports on the company. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a report on Saturday, November 10th. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price target on the stock in a report on Friday. FIG Partners raised BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday. BMO Capital Markets raised their price target on BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $49.08 price target on the stock. in a report on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $53.96.
In other news, Director Patrick C. Graney III acquired 4,200 shares of BB&T stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average price of $47.56 per share, for a total transaction of $199,752.00. Following the completion of the transaction, the director now directly owns 4,200 shares in the company, valued at $199,752. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its position in shares of BB&T by 1.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,505 shares of the insurance provider’s stock valued at $585,000 after acquiring an additional 231 shares during the period. Cornerstone Advisors Inc. lifted its position in shares of BB&T by 19.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock valued at $71,000 after acquiring an additional 240 shares during the period. Reynders McVeigh Capital Management LLC lifted its position in shares of BB&T by 0.9% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 32,960 shares of the insurance provider’s stock valued at $1,600,000 after acquiring an additional 280 shares during the period. Sandy Spring Bank lifted its position in shares of BB&T by 1.7% during the 4th quarter. Sandy Spring Bank now owns 16,724 shares of the insurance provider’s stock valued at $725,000 after acquiring an additional 280 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of BB&T by 14.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,452 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 302 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.
Shares of NYSE BBT traded up $0.33 during midday trading on Monday, reaching $50.57. 7,548,140 shares of the company were exchanged, compared to its average volume of 6,084,600. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.87. BB&T has a 1 year low of $40.68 and a 1 year high of $56.31. The firm has a market cap of $38.72 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.09 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 13th will be given a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.62 dividend on an annualized basis and a yield of 3.20%. BB&T’s payout ratio is currently 40.00%.
BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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