BB&T Corp. (BBT) Receives Buy Rating from Credit Suisse Group AG
BB&T Corp. (NYSE:BBT)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group AG in a research note issued to investors on Wednesday. They currently have a $42.00 price target on the stock. Credit Suisse Group AG’s price target points to a potential upside of 12.30% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Credit Agricole SA boosted their price target on shares of BB&T Corp. from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Morgan Stanley reissued a “hold” rating and issued a $37.00 price target on shares of BB&T Corp. in a research note on Friday, August 5th. Rafferty Capital Markets raised shares of BB&T Corp. from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, June 7th. Stephens downgraded shares of BB&T Corp. from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 22nd. Finally, FBR & Co reissued a “buy” rating and issued a $45.00 price target on shares of BB&T Corp. in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.59.
Shares of BB&T Corp. (NYSE:BBT) opened at 37.40 on Wednesday. BB&T Corp. has a 52 week low of $29.95 and a 52 week high of $39.47. The company has a market capitalization of $30.46 billion, a PE ratio of 14.43 and a beta of 0.99. The company has a 50 day moving average price of $37.87 and a 200 day moving average price of $35.87.
BB&T Corp. (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. BB&T Corp. had a net margin of 20.11% and a return on equity of 9.12%. The company earned $2.79 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the firm posted $0.69 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts expect that BB&T Corp. will post $2.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 10th. This is an increase from BB&T Corp.’s previous quarterly dividend of $0.28. BB&T Corp.’s dividend payout ratio is currently 45.98%.
In other news, insider Barbara F. Duck sold 29,976 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $36.79, for a total value of $1,102,817.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Kelly S. King sold 46,216 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $36.76, for a total transaction of $1,698,900.16. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Group LTD increased its position in shares of BB&T Corp. by 0.3% in the first quarter. BlackRock Group LTD now owns 5,750,200 shares of the company’s stock worth $191,310,000 after buying an additional 17,869 shares during the period. Aston Asset Management LLC bought a new position in shares of BB&T Corp. during the first quarter worth $1,816,000. Franklin Resources Inc. increased its position in shares of BB&T Corp. by 23.1% in the first quarter. Franklin Resources Inc. now owns 2,524,830 shares of the company’s stock worth $84,001,000 after buying an additional 474,315 shares during the period. Bancorpsouth Inc. increased its position in shares of BB&T Corp. by 6.7% in the first quarter. Bancorpsouth Inc. now owns 57,439 shares of the company’s stock worth $1,911,000 after buying an additional 3,585 shares during the period. Finally, Rehmann Capital Advisory Group bought a new position in shares of BB&T Corp. during the first quarter worth $707,000. Hedge funds and other institutional investors own 63.04% of the company’s stock.
About BB&T Corp.
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