Piper Jaffray Companies Reiterates Hold Rating for BB&T (BBT)

BB&T (NYSE:BBT)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a research note issued to investors on Tuesday. They presently have a $53.00 price objective on the insurance provider’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 0.55% from the company’s current price.

Several other equities analysts have also recently commented on BBT. Vining Sparks reissued a “buy” rating and set a $59.00 target price on shares of BB&T in a research report on Monday. Morgan Stanley raised shares of BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 target price on the stock in a research report on Monday. Robert W. Baird reissued a “hold” rating and set a $50.00 target price on shares of BB&T in a research report on Wednesday, January 3rd. Barclays lifted their target price on shares of BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, January 2nd. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.84.

BB&T (NYSE BBT) traded up $0.62 during mid-day trading on Tuesday, reaching $52.71. The company’s stock had a trading volume of 4,032,100 shares, compared to its average volume of 3,532,457. The firm has a market cap of $41,930.00, a P/E ratio of 19.59, a P/E/G ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. BB&T has a fifty-two week low of $41.17 and a fifty-two week high of $53.35.

BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 EPS. equities research analysts expect that BB&T will post 3.1 earnings per share for the current year.

In related news, insider Donna C. Goodrich sold 26,869 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $49.13, for a total value of $1,320,073.97. Following the completion of the transaction, the insider now directly owns 78,589 shares in the company, valued at $3,861,077.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donna C. Goodrich sold 10,799 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total transaction of $505,069.23. Following the completion of the transaction, the insider now owns 47,182 shares of the company’s stock, valued at $2,206,702.14. The disclosure for this sale can be found here. Insiders have sold a total of 182,150 shares of company stock valued at $8,712,859 over the last 90 days. Company insiders own 0.36% of the company’s stock.

A number of large investors have recently made changes to their positions in BBT. Janus Henderson Group PLC grew its position in BB&T by 3,687.8% in the second quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock worth $185,500,000 after acquiring an additional 3,977,166 shares in the last quarter. Vanguard Group Inc. lifted its stake in BB&T by 2.4% in the second quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after purchasing an additional 1,325,018 shares during the last quarter. American Century Companies Inc. lifted its stake in BB&T by 12.6% in the third quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock worth $381,012,000 after purchasing an additional 910,225 shares during the last quarter. Koch Industries Inc. bought a new stake in BB&T in the second quarter worth $680,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of BB&T during the third quarter valued at about $27,849,000. Institutional investors own 65.28% of the company’s stock.

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BB&T 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.

Analyst Recommendations for BB&T (NYSE:BBT)

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