BB&T (BBT) Sets New 52-Week High Following Strong Earnings

BB&T Co. (NYSE:BBT)’s share price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $54.38 and last traded at $54.25, with a volume of 5520220 shares. The stock had previously closed at $53.28.

The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.86 billion. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share.

A number of research firms have recently commented on BBT. UBS Group upgraded BB&T from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 9th. Vining Sparks reiterated a “buy” rating and issued a $59.00 price objective on shares of BB&T in a research note on Monday, January 8th. Piper Jaffray Companies restated a “hold” rating and set a $53.00 price target on shares of BB&T in a research note on Tuesday, January 9th. JPMorgan Chase & Co. boosted their price target on BB&T from $48.50 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, November 1st. Finally, BMO Capital Markets boosted their price target on BB&T from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.00.

In other news, insider Robert Jerome Johnson, Jr. sold 12,357 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $47.70, for a total value of $589,428.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donna C. Goodrich sold 26,869 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $49.13, for a total value of $1,320,073.97. Following the completion of the transaction, the insider now directly owns 78,589 shares in the company, valued at $3,861,077.57. The disclosure for this sale can be found here. Insiders have sold 69,295 shares of company stock worth $3,347,679 over the last ninety days. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of BB&T in the 2nd quarter worth approximately $111,000. Kistler Tiffany Companies LLC boosted its holdings in shares of BB&T by 102.6% in the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 1,193 shares in the last quarter. Highstreet Asset Management Inc. lifted its holdings in BB&T by 105.3% during the 3rd quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock worth $143,000 after buying an additional 1,566 shares in the last quarter. Cable Hill Partners LLC lifted its holdings in BB&T by 7,184.0% during the 3rd quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock worth $171,000 after buying an additional 3,592 shares in the last quarter. Finally, Zions Bancorporation lifted its holdings in BB&T by 120.5% during the 3rd quarter. Zions Bancorporation now owns 3,704 shares of the insurance provider’s stock worth $174,000 after buying an additional 2,024 shares in the last quarter. 65.28% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The firm has a market cap of $42,710.00, a price-to-earnings ratio of 20.13, a PEG ratio of 1.61 and a beta of 1.00.

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About BB&T

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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