BB&T (BBT) Lifted to Outperform at UBS Group
UBS Group upgraded shares of BB&T (NYSE:BBT) from a market perform rating to an outperform rating in a report issued on Tuesday morning, The Fly reports.
Several other research firms have also issued reports on BBT. Vining Sparks restated a buy rating and set a $59.00 price target on shares of BB&T in a report on Monday, January 8th. Piper Jaffray Companies restated a hold rating and set a $53.00 price target on shares of BB&T in a report on Tuesday. Morgan Stanley upgraded shares of BB&T from an underweight rating to an equal weight rating and set a $50.00 price target for the company in a report on Monday, January 8th. Keefe, Bruyette & Woods restated a hold rating and set a $54.00 price target on shares of BB&T in a report on Friday, December 22nd. Finally, Wells Fargo & Co set a $51.00 price target on shares of BB&T and gave the stock a hold rating in a report on Wednesday, December 20th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BB&T has a consensus rating of Hold and an average target price of $52.00.
BB&T (BBT) traded down $0.02 during trading on Tuesday, reaching $53.14. 4,418,407 shares of the company’s stock traded hands, compared to its average volume of 3,038,914. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. BB&T has a 52-week low of $41.17 and a 52-week high of $53.91. The company has a market cap of $41,939.04, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.62 and a beta of 0.99.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $0.76 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. equities research analysts expect that BB&T will post 3.1 EPS for the current fiscal year.
In other BB&T news, Chairman Kelly S. King sold 66,372 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donta L. Wilson sold 4,250 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.51, for a total transaction of $201,917.50. The disclosure for this sale can be found here. Insiders sold a total of 182,150 shares of company stock valued at $8,712,859 in the last quarter. 0.36% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Hexavest Inc. increased its stake in BB&T by 4.6% during the 4th quarter. Hexavest Inc. now owns 330,404 shares of the insurance provider’s stock valued at $16,428,000 after purchasing an additional 14,542 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in BB&T by 102.6% during the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 1,193 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in BB&T during the 4th quarter valued at $303,000. Trust Co increased its stake in BB&T by 44.1% during the 3rd quarter. Trust Co now owns 8,200 shares of the insurance provider’s stock valued at $385,000 after purchasing an additional 2,508 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its stake in BB&T by 3.3% during the 4th quarter. Triangle Securities Wealth Management now owns 42,214 shares of the insurance provider’s stock valued at $2,099,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
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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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