BB&T Corporation (BBT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of BB&T Corporation (NYSE:BBT) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “BB&T’s shares marginally outperformed the Zacks categorized Major Regional Banks industry over the last three months. The company’s fourth-quarter 2016 adjusted earnings were in line with the Zacks Consensus Estimate. Improved top line and stable provisions were offset by higher operating expenses. The bank's strategic acquisitions are persistently helping it expand footprint globally and fuel revenue growth. Further, its consistent growth in loans and deposits along with improving rate scenario will propel its organic growth trajectory. However, escalating costs owing to acquisitions and subsequent integrations are expected to hurt bottom-line growth. Also, exposure to risky loans and adverse impact of new regulations continue to be near-term concerns for the company.”

A number of other equities research analysts have also recently weighed in on BBT. Oppenheimer Holdings, Inc. restated a hold rating on shares of BB&T Corporation in a report on Saturday, January 21st. FIG Partners upped their price target on BB&T Corporation to $57.00 in a report on Thursday, December 22nd. FBR & Co set a $40.00 price target on BB&T Corporation and gave the stock a hold rating in a report on Thursday, October 20th. Keefe, Bruyette & Woods restated a market perform rating and issued a $37.00 price target on shares of BB&T Corporation in a report on Wednesday, October 19th. Finally, RBC Capital Markets restated a buy rating and issued a $50.00 price target on shares of BB&T Corporation in a report on Wednesday, January 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $43.53.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

Shares of BB&T Corporation (NYSE:BBT) opened at 47.87 on Friday. The stock has a market cap of $38.75 billion, a P/E ratio of 17.28 and a beta of 1.05. The firm has a 50-day moving average price of $46.54 and a 200-day moving average price of $41.86. BB&T Corporation has a 52-week low of $31.27 and a 52-week high of $47.93.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, January 19th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. The firm earned $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. BB&T Corporation had a return on equity of 9.37% and a net margin of 20.65%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts anticipate that BB&T Corporation will post $3.10 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Friday, February 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.51%. BB&T Corporation’s dividend payout ratio (DPR) is 43.17%.

In related news, Director Stephen T. Williams sold 1,128,253 shares of BB&T Corporation stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $47.29, for a total value of $53,355,084.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia B. Powell sold 13,465 shares of BB&T Corporation stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $47.19, for a total value of $635,413.35. Following the completion of the transaction, the insider now owns 19,034 shares of the company’s stock, valued at $898,214.46. The disclosure for this sale can be found here. Insiders sold 1,659,275 shares of company stock valued at $77,502,632 over the last quarter. Insiders own 0.88% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. FTB Advisors Inc. increased its position in shares of BB&T Corporation by 18.4% in the third quarter. FTB Advisors Inc. now owns 2,788 shares of the company’s stock worth $105,000 after buying an additional 434 shares during the last quarter. TLP Group LLC bought a new position in shares of BB&T Corporation during the third quarter worth approximately $126,000. Assetmark Inc. increased its position in shares of BB&T Corporation by 8.0% in the third quarter. Assetmark Inc. now owns 3,786 shares of the company’s stock worth $143,000 after buying an additional 279 shares during the last quarter. Mycio Wealth Partners LLC increased its position in shares of BB&T Corporation by 741.4% in the third quarter. Mycio Wealth Partners LLC now owns 3,946 shares of the company’s stock worth $149,000 after buying an additional 3,477 shares during the last quarter. Finally, Gradient Investments LLC increased its position in shares of BB&T Corporation by 25.5% in the third quarter. Gradient Investments LLC now owns 4,430 shares of the company’s stock worth $167,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 64.13% of the company’s stock.

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