Todays Report: The BB&T Corp. (BBT) Downgraded by FBR & Co to Market Perform

The BB&T Corp. (BBT) Downgraded by FBR & Co to Market Perform

FBR & Co cut shares of BB&T Corp. (NYSE:BBT) from an outperform rating to a market perform rating in a research note published on Tuesday. The brokerage currently has $40.00 target price on the stock, down from their previous target price of $45.00.

Several other brokerages also recently weighed in on BBT. Credit Agricole SA raised their target price on BB&T Corp. from $35.00 to $42.00 and gave the company an outperform rating in a report on Friday, September 23rd. Morgan Stanley reissued a hold rating and issued a $37.00 target price on shares of BB&T Corp. in a report on Friday, August 5th. Credit Suisse Group AG set a $42.00 target price on BB&T Corp. and gave the company a buy rating in a report on Wednesday, September 14th. BMO Capital Markets reissued a buy rating and issued a $40.00 target price on shares of BB&T Corp. in a report on Friday, July 22nd. Finally, Stephens downgraded BB&T Corp. from an overweight rating to an equal weight rating in a report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. BB&T Corp. presently has an average rating of Hold and a consensus price target of $39.41.

Shares of BB&T Corp. (NYSE:BBT) traded up 0.39% during midday trading on Tuesday, hitting $38.90. 1,278,661 shares of the company were exchanged. BB&T Corp. has a 52-week low of $29.95 and a 52-week high of $39.47. The stock has a market capitalization of $31.68 billion, a price-to-earnings ratio of 15.01 and a beta of 1.03. The company has a 50-day moving average price of $38.09 and a 200-day moving average price of $36.15.

BB&T Corp. (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. BB&T Corp. had a return on equity of 9.12% and a net margin of 20.11%. The firm earned $2.79 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts forecast that BB&T Corp. will post $2.76 EPS for the current year.

In other news, insider W Bennett Bradley sold 5,000 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $38.11, for a total transaction of $190,550.00. Following the completion of the sale, the insider now owns 16,644 shares in the company, valued at approximately $634,302.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kelly S. King sold 46,216 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $36.76, for a total value of $1,698,900.16. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. WFG Advisors LP boosted its stake in shares of BB&T Corp. by 134.6% in the second quarter. WFG Advisors LP now owns 2,829 shares of the company’s stock worth $101,000 after buying an additional 1,623 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of BB&T Corp. by 13.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,989 shares of the company’s stock worth $106,000 after buying an additional 344 shares during the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in shares of BB&T Corp. during the second quarter worth about $110,000. Global X Management Co. LLC boosted its stake in shares of BB&T Corp. by 117.2% in the second quarter. Global X Management Co. LLC now owns 3,174 shares of the company’s stock worth $113,000 after buying an additional 1,713 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in shares of BB&T Corp. by 13.6% in the second quarter. First Personal Financial Services now owns 3,168 shares of the company’s stock worth $113,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 63.04% of the company’s stock.

About BB&T Corp.

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