BB&T (NYSE:BBT) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS
BB&T (NYSE:BBT) announced its earnings results on Thursday. The insurance provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.03 by $0.04, RTT News reports. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.99 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. BB&T’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS.
BBT stock opened at $52.06 on Thursday. The business’s fifty day moving average is $51.05 and its 200-day moving average is $49.43. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The company has a market cap of $39.83 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. BB&T has a twelve month low of $40.68 and a twelve month high of $53.90.
In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director K. David Jr. Boyer sold 4,285 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total value of $225,562.40. The disclosure for this sale can be found here. In the last three months, insiders sold 25,099,147 shares of company stock worth $714,407,173. 0.49% of the stock is currently owned by company insiders.
BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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