BB&T Co. (BBT) Expected to Post Earnings of $1.00 Per Share
Equities analysts expect that BB&T Co. (NYSE:BBT) will report earnings of $1.00 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for BB&T’s earnings, with estimates ranging from $0.97 to $1.02. BB&T reported earnings per share of $0.78 during the same quarter last year, which indicates a positive year-over-year growth rate of 28.2%. The business is scheduled to announce its next earnings results before the market opens on Thursday, October 18th.
According to Zacks, analysts expect that BB&T will report full year earnings of $3.98 per share for the current year, with EPS estimates ranging from $3.89 to $4.04. For the next fiscal year, analysts forecast that the company will report earnings of $4.34 per share, with EPS estimates ranging from $4.19 to $4.50. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BB&T.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.02). The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share.
In related news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the sale, the insider now directly owns 14,911 shares of the company’s stock, valued at approximately $768,662.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. bought a new stake in BB&T in the 2nd quarter valued at about $16,579,000. Truvestments Capital LLC bought a new stake in BB&T in the 2nd quarter valued at about $377,000. Bank of New York Mellon Corp increased its position in BB&T by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after buying an additional 547,692 shares in the last quarter. Advisors Asset Management Inc. increased its position in BB&T by 4.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 221,488 shares of the insurance provider’s stock valued at $11,172,000 after buying an additional 9,093 shares in the last quarter. Finally, Cleararc Capital Inc. increased its position in BB&T by 9.6% in the 2nd quarter. Cleararc Capital Inc. now owns 45,084 shares of the insurance provider’s stock valued at $2,274,000 after buying an additional 3,962 shares in the last quarter. 64.61% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BBT opened at $51.44 on Friday. The stock has a market capitalization of $39.84 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88. BB&T has a 1 year low of $44.62 and a 1 year high of $56.31.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 10th were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.15%. This is a positive change from BB&T’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, August 9th. BB&T’s payout ratio is presently 51.59%.
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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