Shares of BB&T Corporation (NYSE:BBT) have received a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $47.08.
A number of analysts have recently commented on BBT shares. BidaskClub lowered BB&T Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and cut their price target for the company from $51.00 to $49.00 in a report on Monday, April 24th. 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. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th.
BB&T Corporation (NYSE:BBT) opened at 46.68 on Monday. BB&T Corporation has a 1-year low of $36.75 and a 1-year high of $49.88. The stock’s 50 day moving average price is $46.02 and its 200 day moving average price is $45.21. The firm has a market cap of $37.72 billion, a P/E ratio of 17.42 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Equities research analysts predict that BB&T Corporation will post $2.82 EPS for the current year.
BB&T Corporation declared that its board has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a $0.33 dividend. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.83%. BB&T Corporation’s dividend payout ratio is presently 49.25%.
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In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BBT. Vanguard Group Inc. boosted its position in shares of BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after buying an additional 1,656,297 shares during the last quarter. BlackRock Inc. boosted its position in shares of BB&T Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock worth $2,166,682,000 after buying an additional 381,915 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of BB&T Corporation by 3.5% in the second quarter. First Eagle Investment Management LLC now owns 16,158,157 shares of the insurance provider’s stock worth $733,742,000 after buying an additional 539,533 shares during the last quarter. Bank of America Corp DE boosted its position in shares of BB&T Corporation by 0.3% in the first quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock worth $570,655,000 after buying an additional 43,867 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of BB&T Corporation by 6.0% in the first quarter. American Century Companies Inc. now owns 8,683,308 shares of the insurance provider’s stock worth $388,144,000 after buying an additional 489,519 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
About BB&T Corporation
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.
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