BB&T (BBT) Lifted to Outperform at Citigroup
Citigroup upgraded shares of BB&T (NYSE:BBT) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, The Fly reports. Citigroup currently has $58.00 price objective on the insurance provider’s stock.
BBT has been the topic of several other reports. Zacks Investment Research cut shares of BB&T from a hold rating to a sell rating in a research report on Friday, November 3rd. UBS Group raised shares of BB&T from a market perform rating to an outperform rating in a research report on Tuesday. Stephens raised shares of BB&T from an equal weight rating to an overweight rating and set a $53.00 target price on the stock in a research report on Thursday, October 5th. JPMorgan Chase & Co. raised their target price on shares of BB&T from $48.50 to $49.00 and gave the stock a neutral rating in a research report on Wednesday, November 1st. Finally, SunTrust Banks restated a buy rating and issued a $52.00 price target on shares of BB&T in a report on Friday, October 20th. Fourteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $52.00.
BB&T (NYSE BBT) traded up $0.45 on Tuesday, hitting $53.16. 3,624,500 shares of the company traded hands, compared to its average volume of 3,543,962. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. BB&T has a twelve month low of $41.17 and a twelve month high of $53.35. The firm has a market capitalization of $41,920.00, a PE ratio of 19.76, a PEG ratio of 2.09 and a beta of 1.00.
BB&T (NYSE:BBT) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts expect that BB&T will post 3.1 earnings per share for the current year.
In other news, VP Donta L. Wilson sold 4,250 shares of BB&T stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $47.51, for a total transaction of $201,917.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donna C. Goodrich sold 10,799 shares of BB&T stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total transaction of $505,069.23. Following the sale, the insider now owns 47,182 shares in the company, valued at approximately $2,206,702.14. The disclosure for this sale can be found here. Insiders sold 182,150 shares of company stock worth $8,712,859 in the last 90 days. 0.36% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. First Merchants Corp raised its stake in shares of BB&T by 9.1% during the third quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock valued at $3,790,000 after purchasing an additional 6,753 shares during the period. Captrust Financial Advisors bought a new stake in shares of BB&T in the second quarter worth $2,118,000. Bank of Hawaii bought a new stake in shares of BB&T in the third quarter worth $657,000. BRYN MAWR TRUST Co increased its stake in shares of BB&T by 7.2% in the second quarter. BRYN MAWR TRUST Co now owns 183,137 shares of the insurance provider’s stock worth $8,317,000 after buying an additional 12,361 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of BB&T by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock worth $414,436,000 after buying an additional 86,200 shares during the last quarter. Institutional investors own 65.28% of the company’s stock.
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BB&T 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.
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