BB&T Corp. (BBT) Cut to Market Perform at BMO Capital Markets
BB&T Corp. (NYSE:BBT) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday.
A number of other equities research analysts also recently commented on the company. Morgan Stanley downgraded BB&T Corp. from an “equal weight” rating to an “underweight” rating and set a $42.00 target price for the company. in a report on Monday. They noted that the move was a valuation call. FBR & Co set a $40.00 price target on BB&T Corp. and gave the company a “hold” rating in a research report on Thursday, October 20th. Macquarie cut BB&T Corp. from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $37.00 price target on shares of BB&T Corp. in a research report on Wednesday, October 19th. Finally, Barclays PLC reiterated a “hold” rating and set a $40.00 price target on shares of BB&T Corp. in a research report on Tuesday, October 11th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $39.54.
BB&T Corp. (NYSE:BBT) opened at 42.85 on Tuesday. BB&T Corp. has a 52-week low of $29.95 and a 52-week high of $43.19. The company has a market capitalization of $34.77 billion, a P/E ratio of 15.92 and a beta of 1.02. The stock’s 50 day moving average price is $38.69 and its 200-day moving average price is $36.96.
BB&T Corp. (NYSE:BBT) last released its earnings results on Wednesday, October 19th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05. BB&T Corp. had a return on equity of 9.45% and a net margin of 20.54%. The firm earned $2.80 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. Analysts predict that BB&T Corp. will post $2.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Tuesday, November 8th. BB&T Corp.’s payout ratio is 44.44%.
In other BB&T Corp. news, CFO Daryl N. Bible sold 44,293 shares of the business’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $38.09, for a total transaction of $1,687,120.37. Following the transaction, the chief financial officer now owns 118,639 shares of the company’s stock, valued at $4,518,959.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brantley J. Standridge sold 19,873 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $39.13, for a total value of $777,630.49. Following the transaction, the insider now directly owns 30,817 shares in the company, valued at approximately $1,205,869.21. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BBT. Atria Investments LLC raised its position in BB&T Corp. by 0.6% in the third quarter. Atria Investments LLC now owns 7,632 shares of the company’s stock worth $288,000 after buying an additional 44 shares during the period. Alpha Windward LLC raised its position in BB&T Corp. by 0.9% in the third quarter. Alpha Windward LLC now owns 5,319 shares of the company’s stock worth $201,000 after buying an additional 45 shares during the period. Capital Management Corp VA raised its position in BB&T Corp. by 0.8% in the third quarter. Capital Management Corp VA now owns 6,451 shares of the company’s stock worth $243,000 after buying an additional 51 shares during the period. Capital Investment Advisors LLC raised its position in BB&T Corp. by 0.3% in the second quarter. Capital Investment Advisors LLC now owns 19,847 shares of the company’s stock worth $707,000 after buying an additional 53 shares during the period. Finally, Canal Capital Management LLC raised its position in BB&T Corp. by 0.7% in the third quarter. Canal Capital Management LLC now owns 7,494 shares of the company’s stock worth $283,000 after buying an additional 54 shares during the period. 63.81% of the stock is currently owned by institutional investors.
About BB&T Corp.
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