BB&T Corporation (NYSE:BBT) announced its quarterly earnings results on Thursday. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77, MarketWatch Earnings reports. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.49% and a net margin of 19.06%. BB&T Corporation’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share.
BB&T Corporation (NYSE:BBT) opened at 44.76 on Thursday. The stock’s 50 day moving average price is $44.21 and its 200-day moving average price is $45.08. The firm has a market capitalization of $36.32 billion, a P/E ratio of 17.49 and a beta of 1.06. BB&T Corporation has a 12 month low of $36.19 and a 12 month high of $49.88.
BB&T Corporation declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $1.88 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
BBT has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and set a $50.00 target price on shares of BB&T Corporation in a report on Tuesday, April 4th. FBR & Co restated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $51.00 to $49.00 in a report on Monday, April 24th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.21.
In related news, insider Clarke R. Starnes III sold 53,594 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $43.37, for a total value of $2,324,371.78. Following the completion of the sale, the insider now directly owns 131,350 shares of the company’s stock, valued at $5,696,649.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by insiders.
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.