Trading Report: The BB&T Corp. (BBT) to Release Quarterly Earnings on Wednesday

The BB&T Corp. (BBT) to Release Quarterly Earnings on Wednesday

BB&T Corp. (NYSE:BBT) will be releasing its Q316 earnings data on Wednesday, October 19th. Analysts expect BB&T Corp. to post earnings of $0.70 per share and revenue of $2.77 billion for the quarter.

BB&T Corp. (NYSE:BBT) last issued its quarterly earnings results 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 return on equity of 9.12% and a net margin of 20.11%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts expect BB&T Corp. to post $2.76 EPS for the current fiscal year and $3.08 EPS for the next fiscal year.

Shares of BB&T Corp. (NYSE:BBT) opened at 37.43 on Tuesday. The firm has a 50-day moving average price of $38.10 and a 200-day moving average price of $36.28. The firm has a market capitalization of $30.49 billion, a price-to-earnings ratio of 14.45 and a beta of 1.03. BB&T Corp. has a 52 week low of $29.95 and a 52 week high of $39.47.

Several brokerages have weighed in on BBT. Wells Fargo & Co. reaffirmed a “buy” rating on shares of BB&T Corp. in a research note on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of BB&T Corp. in a research note on Sunday, June 26th. Credit Suisse Group AG reissued a “buy” rating on shares of BB&T Corp. in a research note on Tuesday, July 12th. Barclays PLC reissued a “hold” rating and issued a $40.00 price objective on shares of BB&T Corp. in a research note on Tuesday, October 11th. Finally, Morgan Stanley reissued a “hold” rating and issued a $37.00 price objective on shares of BB&T Corp. in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.41.

In other news, Chairman Kelly S. King sold 46,216 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $36.76, for a total transaction of $1,698,900.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kelly S. King sold 162,415 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $38.25, for a total value of $6,212,373.75. Following the sale, the chairman now owns 448,391 shares of the company’s stock, valued at approximately $17,150,955.75. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in BBT. WFG Advisors LP increased its stake in BB&T Corp. by 134.6% in the second quarter. WFG Advisors LP now owns 2,829 shares of the company’s stock valued at $101,000 after buying an additional 1,623 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in BB&T Corp. during the second quarter valued at about $110,000. Paradigm Asset Management Co. LLC increased its stake in BB&T Corp. by 13.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,100 shares of the company’s stock valued at $146,000 after buying an additional 498 shares during the period. Johnson Financial Group Inc. increased its stake in BB&T Corp. by 528.1% in the second quarter. Johnson Financial Group Inc. now owns 4,133 shares of the company’s stock valued at $147,000 after buying an additional 3,475 shares during the period. Finally, Euclid Advisors LLC bought a new stake in BB&T Corp. during the second quarter valued at about $208,000. Institutional investors own 63.03% of the company’s stock.

About BB&T Corp.

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