Todays Report: The Barclays PLC Reiterates “Hold” Rating for BB&T Corp. (BBT)

The Barclays PLC Reiterates “Hold” Rating for BB&T Corp. (BBT)

BB&T Corp. (NYSE:BBT)‘s stock had its “hold” rating reaffirmed by investment analysts at Barclays PLC in a report issued on Tuesday. They presently have a $40.00 target price on the stock. Barclays PLC’s price objective would suggest a potential upside of 3.33% from the company’s current price.

Other analysts have also issued research reports about the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BB&T Corp. in a research report on Tuesday, July 12th. Citigroup Inc. reaffirmed a “buy” rating on shares of BB&T Corp. in a research report on Tuesday, July 12th. Vetr lowered shares of BB&T Corp. from a “strong-buy” rating to a “buy” rating and set a $38.50 price objective on the stock. in a research report on Monday, July 11th. Deutsche Bank AG reaffirmed a “buy” rating on shares of BB&T Corp. in a research report on Sunday, June 26th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of BB&T Corp. in a research report on Saturday, July 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. BB&T Corp. has an average rating of “Hold” and a consensus price target of $39.41.

Shares of BB&T Corp. (NYSE:BBT) opened at 38.71 on Tuesday. The company’s 50 day moving average is $38.11 and its 200 day moving average is $36.17. BB&T Corp. has a 52-week low of $29.95 and a 52-week high of $39.47. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 14.94 and a beta of 1.03.

BB&T Corp. (NYSE:BBT) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts anticipate that BB&T Corp. will post $2.76 earnings per share for the current year.

In other BB&T Corp. news, insider Barbara F. Duck sold 29,976 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $36.79, for a total transaction of $1,102,817.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daryl N. Bible sold 44,293 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $38.09, for a total transaction of $1,687,120.37. Following the sale, the chief financial officer now directly owns 118,639 shares of the company’s stock, valued at approximately $4,518,959.51. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

A number of large investors have recently made changes to their positions in BBT. Retirement Systems of Alabama boosted its stake in shares of BB&T Corp. by 5.2% in the second quarter. Retirement Systems of Alabama now owns 418,487 shares of the company’s stock valued at $14,902,000 after buying an additional 20,593 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of BB&T Corp. by 356.8% in the second quarter. Meeder Asset Management Inc. now owns 19,039 shares of the company’s stock valued at $677,000 after buying an additional 14,871 shares during the period. Argyle Capital Management Inc. raised its position in shares of BB&T Corp. by 179.2% in the second quarter. Argyle Capital Management Inc. now owns 53,600 shares of the company’s stock valued at $1,909,000 after buying an additional 34,400 shares during the period. Vanguard Group Inc. raised its position in shares of BB&T Corp. by 7.0% in the second quarter. Vanguard Group Inc. now owns 49,616,129 shares of the company’s stock valued at $1,766,830,000 after buying an additional 3,244,045 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of BB&T Corp. by 3.6% in the first quarter. Wellington Management Group LLP now owns 2,327,987 shares of the company’s stock valued at $77,452,000 after buying an additional 81,250 shares during the period. 63.04% of the stock is owned by institutional investors and hedge funds.

About BB&T Corp.

Related posts

Leave a Comment