BB&T Corporation (BBT) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of BB&T Corporation (NYSE:BBT) from a hold rating to a buy rating in a research note issued to investors on Tuesday. They currently have $52.00 price target on the stock.

According to Zacks, “BB&T’s shares have outperformed the Zacks categorized Regional Banks-Major industry over the last one year. The bank's strategic acquisitions are persistently helping in expanding footprints globally and fuel revenue growth. Moreover, its consistent growth in loans and deposits along with improving credit quality will continue to propel its organic growth trajectory. Notably, the company raised its prime lending rate to 3.75%, following Fed interest rate hike to 0.50%-0.75%. However, escalating costs, exposure to risky loans, impact of new regulations and margin compression continue to be near term concerns for the company.”

BBT has been the topic of a number of other research reports. Morgan Stanley lowered BB&T Corporation from an equal weight rating to an underweight rating and set a $42.00 target price on the stock. in a research note on Monday, November 14th. They noted that the move was a valuation call. Hilliard Lyons lowered BB&T Corporation from a buy rating to a neutral rating and lifted their target price for the company from $42.00 to $50.00 in a research note on Tuesday, December 20th. BMO Capital Markets lowered BB&T Corporation from an outperform rating to a market perform rating and lifted their target price for the company from $43.00 to $45.00 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Deutsche Bank AG lifted their target price on BB&T Corporation from $42.00 to $48.00 and gave the company a buy rating in a research note on Wednesday, November 30th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating on shares of BB&T Corporation in a research note on Wednesday, October 12th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. BB&T Corporation has a consensus rating of Hold and a consensus target price of $42.57.

Shares of BB&T Corporation (NYSE:BBT) traded down 0.02% on Tuesday, hitting $46.65. 7,855,712 shares of the company traded hands. The firm’s 50 day moving average price is $46.41 and its 200-day moving average price is $40.02. The stock has a market capitalization of $37.85 billion, a price-to-earnings ratio of 17.34 and a beta of 1.08. BB&T Corporation has a 1-year low of $29.95 and a 1-year high of $47.85.

BB&T Corporation (NYSE:BBT) last posted its earnings results on Wednesday, October 19th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm earned $2.80 billion during the quarter, compared to the consensus estimate of $2.77 billion. BB&T Corporation had a return on equity of 9.45% and a net margin of 20.54%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. On average, equities research analysts expect that BB&T Corporation will post $2.79 earnings per share for the current year.

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In other BB&T Corporation news, Director Nido R. Qubein sold 10,904 shares of the stock in a transaction that occurred on Thursday, December 22nd. The stock was sold at an average price of $47.28, for a total transaction of $515,541.12. Following the completion of the sale, the director now directly owns 49,499 shares of the company’s stock, valued at approximately $2,340,312.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen T. Williams sold 1,128,253 shares of the stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $47.29, for a total value of $53,355,084.37. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Barnett & Company Inc. increased its position in BB&T Corporation by 58.7% in the third quarter. Barnett & Company Inc. now owns 5,675 shares of the company’s stock valued at $214,000 after buying an additional 2,098 shares during the last quarter. Mcmillion Capital Management Inc. increased its position in BB&T Corporation by 18.8% in the third quarter. Mcmillion Capital Management Inc. now owns 87,872 shares of the company’s stock valued at $3,315,000 after buying an additional 13,907 shares during the last quarter. ETRADE Capital Management LLC increased its position in BB&T Corporation by 6.9% in the third quarter. ETRADE Capital Management LLC now owns 60,845 shares of the company’s stock valued at $2,295,000 after buying an additional 3,906 shares during the last quarter. D.A. Davidson & CO. increased its position in BB&T Corporation by 211.5% in the third quarter. D.A. Davidson & CO. now owns 27,912 shares of the company’s stock valued at $1,052,000 after buying an additional 18,951 shares during the last quarter. Finally, Bainco International Investors increased its position in BB&T Corporation by 2.7% in the third quarter. Bainco International Investors now owns 159,995 shares of the company’s stock valued at $6,035,000 after buying an additional 4,225 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

About BB&T Corporation

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