Zacks: Analysts Anticipate BB&T Co. (NYSE:BBT) to Announce $1.10 EPS

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Wall Street analysts forecast that BB&T Co. (NYSE:BBT) will report earnings per share of $1.10 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for BB&T’s earnings, with the highest EPS estimate coming in at $1.14 and the lowest estimate coming in at $1.03. BB&T posted earnings per share of $1.01 in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The firm is expected to report its next earnings results before the market opens on Thursday, July 18th.

On average, analysts expect that BB&T will report full year earnings of $4.28 per share for the current fiscal year, with EPS estimates ranging from $4.22 to $4.35. For the next fiscal year, analysts anticipate that the company will post earnings of $4.73 per share, with EPS estimates ranging from $4.45 to $4.91. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for BB&T.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company posted $0.94 EPS. BB&T’s revenue was up 3.0% on a year-over-year basis.

Several research analysts recently weighed in on BBT shares. Odeon Capital Group started coverage on shares of BB&T in a research report on Friday, March 8th. They issued a “buy” rating for the company. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Deutsche Bank upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Monday, March 25th. Raymond James cut shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price objective for the company. in a research report on Thursday, April 4th. Finally, Morgan Stanley dropped their price objective on shares of BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. BB&T presently has a consensus rating of “Hold” and an average target price of $53.49.

BBT stock traded down $0.25 during trading on Wednesday, hitting $48.08. The company had a trading volume of 3,721,027 shares, compared to its average volume of 5,384,114. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. The company has a 50-day simple moving average of $48.71. BB&T has a 12 month low of $40.68 and a 12 month high of $53.08. The company has a market cap of $37.04 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.16.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, May 14th. BB&T’s payout ratio is 40.00%.

In other BB&T news, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total transaction of $130,482.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $49.16, for a total transaction of $168,028.88. Following the sale, the insider now owns 14,911 shares of the company’s stock, valued at approximately $733,024.76. The disclosure for this sale can be found here. Insiders have sold a total of 8,569 shares of company stock valued at $419,336 in the last quarter. Corporate insiders own 0.49% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Worldquant Millennium Quantitative Strategies LLC grew its holdings in shares of BB&T by 46.0% in the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 41,659 shares of the insurance provider’s stock valued at $1,805,000 after buying an additional 13,120 shares during the period. ZWJ Investment Counsel Inc. boosted its stake in BB&T by 4.4% in 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 period. Raymond James & Associates boosted its stake in BB&T by 13.5% in 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 period. Caxton Associates LP boosted its stake in BB&T by 60.8% in the 4th quarter. Caxton Associates LP now owns 12,686 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 4,795 shares during the period. Finally, Advisory Services Network LLC boosted 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 worth $2,317,000 after purchasing an additional 12,729 shares during the period. 68.03% of the stock is owned by institutional investors.

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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