BB&T Co. (BBT) Expected to Post Earnings of $1.00 Per Share
Equities analysts expect that BB&T Co. (NYSE:BBT) will report $1.00 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for BB&T’s earnings, with estimates ranging from $0.97 to $1.02. BB&T reported earnings of $0.78 per share during the same quarter last year, which indicates a positive year over year growth rate of 28.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 18th.
On average, 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 year, analysts expect that the company will report earnings of $4.33 per share, with EPS estimates ranging from $4.15 to $4.50. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow BB&T.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.02). BB&T had a return on equity of 11.02% and a net margin of 22.53%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the company posted $0.77 EPS. BB&T’s quarterly revenue was up .8% compared to the same quarter last year.
In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the sale, the insider now owns 14,911 shares in the company, valued at approximately $768,662.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $52.34, for a total value of $130,850.00. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BBT. Charles Schwab Investment Advisory Inc. purchased a new position in shares of BB&T during the 2nd quarter valued at approximately $346,422,000. Bank of America Corp DE lifted its position in shares of BB&T by 18.0% during the 2nd quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after buying an additional 4,304,522 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of BB&T during the 2nd quarter valued at approximately $100,873,000. OppenheimerFunds Inc. lifted its position in shares of BB&T by 826.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,156,467 shares of the insurance provider’s stock valued at $60,183,000 after buying an additional 1,031,619 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of BB&T by 50.2% during the 1st quarter. Royal Bank of Canada now owns 2,647,251 shares of the insurance provider’s stock valued at $137,762,000 after buying an additional 885,096 shares in the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.
NYSE:BBT traded up $0.48 during midday trading on Tuesday, hitting $52.14. The company’s stock had a trading volume of 2,908,700 shares, compared to its average volume of 3,824,280. BB&T has a fifty-two week low of $43.03 and a fifty-two week high of $56.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90. The company has a market cap of $40.01 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, August 9th. This is a positive change from BB&T’s previous quarterly dividend of $0.38. BB&T’s dividend payout ratio is currently 51.59%.
BB&T Company Profile
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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