BidaskClub upgraded shares of BB&T Corporation (NYSE:BBT) from a hold rating to a buy rating in a research report released on Tuesday.

BBT has been the subject of several other research reports. Macquarie upgraded shares of BB&T Corporation from an underperform rating to a neutral rating and set a $47.00 price target for the company in a research report on Friday, August 4th. BMO Capital Markets restated a hold rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. Hilliard Lyons lowered shares of BB&T Corporation from a buy rating to a hold rating and set a $51.00 price target on the stock. in a research note on Friday, July 21st. Jefferies Group LLC restated a hold rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 14th. Finally, FBR & Co reiterated a hold rating on shares of BB&T Corporation in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. BB&T Corporation presently has an average rating of Hold and an average price target of $47.40.

BB&T Corporation (NYSE BBT) traded down 0.63% during midday trading on Tuesday, hitting $47.62. 2,096,799 shares of the stock were exchanged. The stock has a market cap of $38.48 billion, a price-to-earnings ratio of 17.78 and a beta of 1.07. The firm’s 50-day moving average is $45.60 and its 200 day moving average is $45.15. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88.

BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts expect that BB&T Corporation will post $2.83 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 annualized dividend and a yield of 2.74%. BB&T Corporation’s dividend payout ratio is currently 44.78%.

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

In related news, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the transaction, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were 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. 0.36% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jolley Asset Management LLC raised its position in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares during the period. Community Bank N.A. raised its position in shares of BB&T Corporation by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after buying an additional 144 shares during the period. Quadrant Capital Group LLC raised its position in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock worth $135,000 after buying an additional 79 shares during the period. Liberty Capital Management Inc. acquired a new position in shares of BB&T Corporation during the second quarter worth about $136,000. Finally, Guardian Life Insurance Co. of America raised its position in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 64.45% of the company’s stock.

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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