$2.92 Billion in Sales Expected for BB&T Co. (BBT) This Quarter

Equities research analysts predict that BB&T Co. (NYSE:BBT) will report sales of $2.92 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for BB&T’s earnings, with the lowest sales estimate coming in at $2.89 billion and the highest estimate coming in at $2.98 billion. BB&T reported sales of $2.81 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, October 18th.

According to Zacks, analysts expect that BB&T will report full year sales of $11.58 billion for the current year, with estimates ranging from $11.52 billion to $11.66 billion. For the next financial year, analysts forecast that the firm will report sales of $12.03 billion per share, with estimates ranging from $11.87 billion to $12.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover BB&T.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). BB&T had a net margin of 22.53% and a return on equity of 11.02%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s revenue was up .8% on a year-over-year basis.

A number of research analysts have commented on BBT shares. BMO Capital Markets restated a “buy” rating and set a $59.00 price target on shares of BB&T in a research note on Thursday, July 12th. B. Riley decreased their price target on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 price target on shares of BB&T in a research note on Friday, July 20th. Finally, ValuEngine cut BB&T from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. BB&T currently has an average rating of “Buy” and a consensus price target of $54.70.

In other news, insider Donta L. Wilson sold 3,018 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total transaction of $155,577.90. Following the sale, the insider now owns 14,911 shares of the company’s stock, valued at $768,662.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 2,500 shares of the company’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $52.34, for a total value of $130,850.00. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. First PREMIER Bank increased its holdings in BB&T by 64.9% in the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock valued at $128,000 after buying an additional 1,000 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in BB&T by 4.1% in the first quarter. Daiwa Securities Group Inc. now owns 25,615 shares of the insurance provider’s stock valued at $1,333,000 after acquiring an additional 1,009 shares in the last quarter. Legacy Private Trust Co. boosted its stake in BB&T by 14.0% in the second quarter. Legacy Private Trust Co. now owns 8,530 shares of the insurance provider’s stock valued at $430,000 after acquiring an additional 1,050 shares in the last quarter. Capital Investment Advisory Services LLC boosted its stake in BB&T by 5.7% in the second quarter. Capital Investment Advisory Services LLC now owns 20,016 shares of the insurance provider’s stock valued at $1,010,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in BB&T by 1.1% in the second quarter. Mutual of America Capital Management LLC now owns 100,393 shares of the insurance provider’s stock valued at $5,064,000 after acquiring an additional 1,089 shares in the last quarter. 65.52% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BBT traded up $0.54 during trading hours on Monday, reaching $52.25. 2,168,200 shares of the stock were exchanged, compared to its average volume of 3,878,247. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. BB&T has a twelve month low of $43.03 and a twelve month high of $56.31. The stock has a market capitalization of $40.05 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 10th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from BB&T’s previous quarterly dividend of $0.38. BB&T’s dividend payout ratio is currently 51.59%.

BB&T Company Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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

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