Brokerages predict that BB&T Co. (NYSE:BBT) will announce sales of $2.85 billion for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for BB&T Co.’s earnings, with the lowest sales estimate coming in at $2.81 billion and the highest estimate coming in at $2.89 billion. BB&T Co. reported sales of $2.75 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The company is expected to announce its next quarterly earnings report on Thursday, July 20th.
On average, analysts expect that BB&T Co. will report full-year sales of $2.85 billion for the current fiscal year, with estimates ranging from $11.23 billion to $11.59 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.95 billion per share, with estimates ranging from $11.67 billion to $12.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow BB&T Co..
BB&T Co. (NYSE:BBT) last announced its quarterly earnings results on Thursday, April 20th. The insurance provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.80 billion. BB&T Co. had a net margin of 20.65% and a return on equity of 9.37%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share.
BBT has been the subject of several analyst reports. Morgan Stanley downgraded shares of BB&T Co. from an “equal weight” rating to an “underweight” rating in a report on Tuesday, January 31st. Barclays PLC increased their target price on shares of BB&T Co. from $40.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. Hilliard Lyons upgraded shares of BB&T Co. from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, January 23rd. Zacks Investment Research upgraded shares of BB&T Co. from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Thursday, December 29th. Finally, Piper Jaffray Companies upgraded shares of BB&T Co. from an “underweight” rating to a “neutral” rating in a report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.92.
In other news, Director Charles A. Patton sold 10,000 shares of BB&T Co. stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $48.15, for a total value of $481,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP W Bennett Bradley sold 2,132 shares of BB&T Co. stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $45.54, for a total transaction of $97,091.28. Following the completion of the transaction, the executive vice president now owns 29,825 shares of the company’s stock, valued at approximately $1,358,230.50. The disclosure for this sale can be found here. Insiders sold 532,930 shares of company stock valued at $24,248,679 in the last quarter. Corporate insiders own 0.88% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Quadrant L P CA increased its position in BB&T Co. by 0.6% in the third quarter. First Quadrant L P CA now owns 11,736 shares of the insurance provider’s stock valued at $443,000 after buying an additional 68 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in BB&T Co. by 27.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 9,344 shares of the insurance provider’s stock worth $352,000 after buying an additional 2,000 shares during the period. Capital Management Corp VA raised its position in BB&T Co. by 0.8% in the third quarter. Capital Management Corp VA now owns 6,451 shares of the insurance provider’s stock worth $243,000 after buying an additional 51 shares during the period. Regentatlantic Capital LLC purchased a new position in BB&T Co. during the third quarter worth approximately $210,000. Finally, Chemung Canal Trust Co. raised its position in BB&T Co. by 3.3% in the third quarter. Chemung Canal Trust Co. now owns 62,045 shares of the insurance provider’s stock worth $2,341,000 after buying an additional 1,978 shares during the period. Hedge funds and other institutional investors own 64.13% of the company’s stock.
Shares of BB&T Co. (NYSE:BBT) traded down 1.431% during midday trading on Friday, hitting $43.045. 3,537,670 shares of the company were exchanged. BB&T Co. has a one year low of $32.85 and a one year high of $49.88. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 15.540 and a beta of 1.05. The firm’s 50 day moving average price is $45.34 and its 200 day moving average price is $44.52.
About BB&T Co.
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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