BB&T (BBT) – Analysts’ Weekly Ratings Updates

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BB&T (NYSE: BBT) recently received a number of ratings updates from brokerages and research firms:

  • 11/1/2018 – BB&T was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/24/2018 – BB&T was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of BB&T have outperformed the industry over the past year. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three and matched in one of the trailing four quarters. Its third-quarter 2018 results benefited from higher revenues and lower operating expenses. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth, and inorganic growth strategy will likely continue to support top-line growth. Moreover, the company's enhanced capital deployment plan reflects a strong balance sheet position. However, mounting expenses are likely to hurt bottom-line growth in the near term. Moreover, the company's significant exposure to risky loans remains a major concern as it might hamper financials.”
  • 10/23/2018 – BB&T was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shares of BB&T have marginally outperformed the industry over the past year. The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three and matched in one of the trailing four quarters. Its third-quarter 2018 results benefited from higher revenues and lower operating expenses. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth, and inorganic growth strategy will likely continue to support top-line growth. While mounting expenses and significant exposure to risky loans remain major concerns for the company, its enhanced capital deployment plan reflects a strong balance sheet position.”
  • 10/19/2018 – BB&T had its price target lowered by analysts at BMO Capital Markets from $58.00 to $57.00. They now have an “outperform” rating on the stock.
  • 10/18/2018 – BB&T was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/15/2018 – BB&T was given a new $56.00 price target on by analysts at B. Riley. They now have a “buy” rating on the stock.
  • 10/12/2018 – BB&T was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of BB&T have marginally underperformed the industry so far this year. The company has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. However, elevated expense levels are expected to hurt profitability to some extent. Further, the company's significant exposure toward risky loans remains a major near-term concern.”
  • 10/10/2018 – BB&T was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shares of BB&T have outperformed the industry so far this year. The company has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. However, elevated expense levels and the company's significant exposure toward risky loans remain major near-term concerns.”
  • 10/5/2018 – BB&T was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of BB&T have outperformed the industry so far this year. The company has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. However, elevated expense levels remain a major concern for the company. Further, significant exposure to risky loans is a headwind.”
  • 10/3/2018 – BB&T was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock. According to Zacks, “BB&T has a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Consistent growth in loans and deposits, higher interest rates, focus on non-interest income growth and inorganic growth strategy will likely to support revenues further. Also, the company’s enhanced capital deployment plan reflects strong balance sheet position. Further, lower tax rates will support the company's financials. Nonetheless, shares of the company have marginally underperformed the industry in the past year. Elevated expense levels remain a major concern for the company.”
  • 10/2/2018 – BB&T was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.

BBT traded up $0.24 on Tuesday, hitting $49.97. 3,486,952 shares of the stock were exchanged, compared to its average volume of 5,580,910. BB&T Co. has a 12 month low of $45.73 and a 12 month high of $56.31. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $37.89 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.26 and a beta of 0.94.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. BB&T’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that BB&T Co. will post 3.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a yield of 3.24%. BB&T’s dividend payout ratio is 51.59%.

In related news, Director I. Patricia Henry sold 611 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total transaction of $30,244.50. Following the completion of the sale, the director now owns 4,375 shares of the company’s stock, valued at $216,562.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BBT. Charles Schwab Investment Advisory Inc. bought a new stake in BB&T during the second quarter worth about $346,422,000. Bank of America Corp DE lifted its holdings in shares of BB&T by 18.0% in the second quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock worth $1,421,098,000 after acquiring an additional 4,304,522 shares during the last quarter. Epoch Investment Partners Inc. bought a new position in shares of BB&T in the second quarter worth about $100,873,000. American Century Companies Inc. lifted its holdings in shares of BB&T by 10.5% in the third quarter. American Century Companies Inc. now owns 9,054,595 shares of the insurance provider’s stock worth $439,510,000 after acquiring an additional 861,733 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of BB&T by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock worth $527,666,000 after acquiring an additional 547,692 shares during the last quarter. 64.96% of the stock is owned by institutional investors and hedge funds.

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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