Trading Report: Today, Brokerages Set BB&T Corp. (NYSE:BBT) PT at $39.32

Today, Brokerages Set BB&T Corp. (NYSE:BBT) PT at $39.32

Shares of BB&T Corp. (NYSE:BBT) have earned an average recommendation of “Hold” from the twenty-six ratings firms that are presently covering the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.32.

A number of equities research analysts have recently commented on the company. Credit Agricole SA increased their target price on 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 target price on shares of BB&T Corp. in a research note on Friday, August 5th. Credit Suisse Group AG set a $42.00 target price on BB&T Corp. and gave the stock a “buy” rating in a research note 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 research note on Friday, July 22nd. Finally, Stephens cut BB&T Corp. from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 22nd.

In related news, insider Barbara F. Duck sold 29,976 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $36.79, for a total transaction of $1,102,817.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kelly S. King sold 46,216 shares of the 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 insiders.

Hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP boosted 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 in the last quarter. Integrated Investment Consultants LLC boosted its stake in BB&T Corp. by 13.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,989 shares of the company’s stock valued at $106,000 after buying an additional 344 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in BB&T Corp. during the second quarter valued at about $110,000. Global X Management Co. LLC boosted its stake in 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 valued at $113,000 after buying an additional 1,713 shares in the last quarter. Finally, First Personal Financial Services boosted its stake in BB&T Corp. by 13.6% in the second quarter. First Personal Financial Services now owns 3,168 shares of the company’s stock valued at $113,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 63.04% of the company’s stock.

Shares of BB&T Corp. (NYSE:BBT) opened at 38.84 on Monday. The stock has a market cap of $31.64 billion, a price-to-earnings ratio of 14.99 and a beta of 1.03. The company has a 50-day moving average price of $37.95 and a 200 day moving average price of $36.01. BB&T Corp. has a one year low of $29.95 and a one year high of $39.47.

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. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.73 billion. BB&T Corp. had a return on equity of 9.12% and a net margin of 20.11%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts expect that BB&T Corp. will post $2.76 earnings per share for the current year.

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