Analysts Set BB&T Corporation (BBT) Price Target at $48.15

BB&T Corporation (NYSE:BBT) has earned an average rating of “Hold” from the twenty research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $48.21.

BBT has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of BB&T Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $44.00 target price for the company. Zacks Investment Research lowered shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub lowered shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research note on Friday, September 15th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price objective on shares of BB&T Corporation in a research note on Friday, August 25th.

Shares of BB&T Corporation (NYSE BBT) traded up 0.48% on Friday, reaching $47.71. 1,928,764 shares of the company’s stock traded hands. The firm has a market cap of $38.55 billion, a P/E ratio of 17.81 and a beta of 1.07. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88. The stock has a 50-day moving average of $45.69 and a 200 day moving average of $44.80.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, equities research analysts expect that BB&T Corporation will post $2.81 earnings per share for the current year.

BB&T Corporation declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $1.88 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. Insiders sold 55,610 shares of company stock valued at $2,618,364 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of BBT. BlackRock Inc. increased its holdings in shares of BB&T Corporation by 2,875.1% during the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after acquiring an additional 45,740,906 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of BB&T Corporation by 3,687.8% during the second quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock valued at $185,500,000 after acquiring an additional 3,977,166 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of BB&T Corporation by 3.2% during the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after acquiring an additional 1,656,297 shares in the last quarter. Janus Capital Management LLC increased its holdings in shares of BB&T Corporation by 46.8% during the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after acquiring an additional 1,062,590 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of BB&T Corporation by 214.8% during the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after acquiring an additional 998,898 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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BB&T Corporation Company Profile

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.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

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