BB&T Corporation (BBT) Expected to Announce Earnings of $0.79 Per Share
Analysts expect BB&T Corporation (NYSE:BBT) to announce earnings per share (EPS) of $0.79 for the current quarter, Zacks reports. Seven analysts have issued estimates for BB&T Corporation’s earnings, with the lowest EPS estimate coming in at $0.77 and the highest estimate coming in at $0.82. BB&T Corporation reported earnings of $0.76 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 18th.
On average, analysts expect that BB&T Corporation will report full-year earnings of $3.12 per share for the current financial year, with EPS estimates ranging from $3.08 to $3.17. For the next fiscal year, analysts anticipate that the business will post earnings of $3.45 per share, with EPS estimates ranging from $3.30 to $3.67. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for BB&T Corporation.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year.
Several equities analysts have recently weighed in on BBT shares. BidaskClub downgraded BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $48.00 target price on shares of BB&T Corporation in a research note on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $47.19.
BB&T Corporation (BBT) traded down 0.79% on Friday, reaching $46.31. The company had a trading volume of 4,575,041 shares. The stock has a market capitalization of $37.42 billion, a P/E ratio of 17.29 and a beta of 1.07. BB&T Corporation has a 1-year low of $36.80 and a 1-year high of $49.88. The stock’s 50 day moving average is $46.10 and its 200-day moving average is $45.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio is presently 49.25%.
BB&T Corporation announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $1.88 billion in shares. This buyback authorization permits the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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In other news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BBT. Vanguard Group Inc. increased its stake in BB&T Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after buying an additional 1,325,018 shares during the last quarter. BlackRock Inc. increased its stake in shares of BB&T Corporation by 0.8% in the second quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock valued at $2,166,682,000 after buying an additional 381,915 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of BB&T Corporation by 3.5% in the second quarter. First Eagle Investment Management LLC now owns 16,158,157 shares of the insurance provider’s stock valued at $733,742,000 after buying an additional 539,533 shares in the last quarter. Bank of America Corp DE increased its stake in shares of BB&T Corporation by 0.3% in the first quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock valued at $570,655,000 after buying an additional 43,867 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of BB&T Corporation by 6.0% in the first quarter. American Century Companies Inc. now owns 8,683,308 shares of the insurance provider’s stock valued at $388,144,000 after buying an additional 489,519 shares in the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.
About BB&T Corporation
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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