BB&T Corporation (BBT) Downgraded by Hilliard Lyons to “Hold”

BB&T Corporation (NYSE:BBT) was downgraded by investment analysts at Hilliard Lyons from a “buy” rating to a “hold” rating in a note issued to investors on Friday, July 21st. They presently have a $51.00 target price on the insurance provider’s stock. Hilliard Lyons’ target price would indicate a potential upside of 10.58% from the company’s previous close.

Several other analysts have also recently commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a report on Friday, July 14th. BMO Capital Markets restated a “hold” rating and issued a $48.00 price target on shares of BB&T Corporation in a report on Friday, June 30th. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. Finally, FBR & Co reiterated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.19.

Shares of BB&T Corporation (NYSE BBT) traded down 0.09% on Friday, reaching $46.12. 4,394,869 shares of the company’s stock traded hands. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 17.22 and a beta of 1.07. The stock’s 50-day moving average price is $46.43 and its 200-day moving average price is $45.22.

BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts predict that BB&T Corporation will post $2.84 EPS for the current year.

BB&T Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the transaction, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in BBT. Sheets Smith Wealth Management raised its position in shares of BB&T Corporation by 4.1% in the first quarter. Sheets Smith Wealth Management now owns 14,064 shares of the insurance provider’s stock worth $629,000 after buying an additional 554 shares during the last quarter. Creative Planning raised its stake in BB&T Corporation by 20.7% in the first quarter. Creative Planning now owns 124,972 shares of the insurance provider’s stock valued at $5,586,000 after buying an additional 21,435 shares in the last quarter. Denali Advisors LLC purchased a new stake in BB&T Corporation during the first quarter valued at about $3,044,000. Manning & Napier Advisors LLC raised its stake in BB&T Corporation by 13.1% in the first quarter. Manning & Napier Advisors LLC now owns 81,975 shares of the insurance provider’s stock valued at $3,663,000 after buying an additional 9,524 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in BB&T Corporation by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 736,299 shares of the insurance provider’s stock valued at $32,912,000 after buying an additional 19,011 shares in the last quarter. 64.46% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

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