Jefferies Group Comments on BB&T Corporation’s FY2019 Earnings (BBT)

BB&T Corporation (NYSE:BBT) – Equities research analysts at Jefferies Group issued their FY2019 earnings per share estimates for BB&T Corporation in a research note issued to investors on Monday. Jefferies Group analyst K. Usdin forecasts that the insurance provider will earn $3.60 per share for the year. Jefferies Group currently has a “Hold” rating and a $49.00 target price on the stock.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. TRADEMARK VIOLATION NOTICE: This report was reported by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/10/12/jefferies-group-comments-on-bbt-corporations-fy2019-earnings-bbt.html.

BBT has been the subject of a number of other research reports. BMO Capital Markets restated a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a research note on Friday, June 30th. Stephens raised shares of BB&T Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a report on Thursday, October 5th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price objective (up from $47.00) on shares of BB&T Corporation in a report on Monday. Finally, Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.00.

Shares of BB&T Corporation (BBT) traded down 1.06% during mid-day trading on Tuesday, reaching $46.85. 2,580,748 shares of the company’s stock were exchanged. The company has a market cap of $37.86 billion, a PE ratio of 17.49 and a beta of 1.07. The company’s 50-day moving average price is $45.77 and its 200 day moving average price is $44.84. BB&T Corporation has a 52-week low of $37.40 and a 52-week high of $49.88.

BB&T Corporation announced that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to buyback $1.88 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the sale, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Insiders sold a total of 55,610 shares of company stock worth $2,618,364 over the last three months. 0.36% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC lifted its holdings in BB&T Corporation by 199.9% during the second quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock valued at $191,000 after purchasing an additional 1,499 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in BB&T Corporation during the second quarter valued at about $111,000. Community Bank N.A. lifted its holdings in BB&T Corporation by 6.2% during the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in BB&T Corporation during the second quarter valued at about $136,000. Finally, Oakworth Capital Inc. lifted its holdings in BB&T Corporation by 51.1% during the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 1,045 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

BB&T Corporation Company Profile

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.

Earnings History and Estimates for BB&T Corporation (NYSE:BBT)

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