FY2018 EPS Estimates for BB&T Co. Lifted by Analyst (BBT)
BB&T Co. (NYSE:BBT) – Investment analysts at Piper Jaffray Companies increased their FY2018 earnings per share (EPS) estimates for BB&T in a research note issued on Thursday, November 15th. Piper Jaffray Companies analyst K. Barker now expects that the insurance provider will post earnings of $4.01 per share for the year, up from their previous forecast of $3.98. Piper Jaffray Companies also issued estimates for BB&T’s Q1 2019 earnings at $1.00 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.08 EPS, FY2019 earnings at $4.21 EPS and FY2020 earnings at $4.59 EPS.
BBT has been the topic of several other reports. B. Riley set a $56.00 target price on shares of BB&T and gave the stock a “buy” rating in a research report on Monday, October 15th. ValuEngine downgraded shares of BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of BB&T from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Finally, BMO Capital Markets dropped their target price on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.50.
BB&T (NYSE:BBT) last released its earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of BBT. Zions Bancorporation bought a new position in BB&T during the third quarter worth $102,000. IMA Wealth Inc. bought a new position in BB&T during the second quarter worth $116,000. Girard Partners LTD. bought a new position in BB&T during the third quarter worth $142,000. SRS Capital Advisors Inc. increased its position in BB&T by 4,311.8% during the third quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 2,932 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in BB&T during the second quarter worth $167,000. Hedge funds and other institutional investors own 63.83% of the company’s stock.
In related news, Director Nido R. Qubein sold 2,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total transaction of $141,786.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director I. Patricia Henry sold 611 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $49.50, for a total transaction of $30,244.50. Following the sale, the director now owns 4,375 shares of the company’s stock, valued at $216,562.50. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Thursday, November 8th. BB&T’s dividend payout ratio is currently 51.59%.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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