BB&T (NYSE:BBT) Price Target Lowered to $50.50 at JPMorgan Chase & Co.

BB&T (NYSE:BBT) had its price objective cut by JPMorgan Chase & Co. from $51.50 to $50.50 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Deutsche Bank restated a hold rating on shares of Tata Motors in a report on Tuesday, March 26th. Raymond James restated a buy rating on shares of Teck Resources in a report on Thursday, April 4th. Finally, Morgan Stanley downgraded shares of Silicon Motion Technology from an equal weight rating to an underweight rating in a report on Monday, April 22nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. BB&T presently has an average rating of Hold and a consensus target price of $53.22.

Shares of BBT stock opened at $50.45 on Tuesday. The business has a fifty day moving average of $48.89. BB&T has a 52 week low of $40.68 and a 52 week high of $53.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $38.64 billion, a PE ratio of 12.46, a P/E/G ratio of 1.26 and a beta of 1.13.

BB&T (NYSE:BBT) last posted its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, research analysts forecast that BB&T will post 4.24 EPS for the current fiscal year.

In related news, Director Louis B. Lynn sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total transaction of $120,825.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total transaction of $130,482.22. The disclosure for this sale can be found here. Insiders have sold a total of 8,569 shares of company stock worth $419,336 over the last quarter. 0.49% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. CENTRAL TRUST Co grew its stake in BB&T by 18.5% in the 2nd quarter. CENTRAL TRUST Co now owns 13,977 shares of the insurance provider’s stock worth $703,000 after acquiring an additional 2,179 shares in the last quarter. Sheets Smith Wealth Management grew its stake in BB&T by 16.6% in the 2nd quarter. Sheets Smith Wealth Management now owns 60,235 shares of the insurance provider’s stock worth $2,959,000 after acquiring an additional 8,576 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in BB&T by 3.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 139,980 shares of the insurance provider’s stock worth $6,877,000 after acquiring an additional 4,324 shares in the last quarter. Accurate Investment Solutions Inc. grew its stake in BB&T by 3.1% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 72,201 shares of the insurance provider’s stock worth $3,547,000 after acquiring an additional 2,151 shares in the last quarter. Finally, Gofen & Glossberg LLC IL grew its stake in BB&T by 0.8% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 253,858 shares of the insurance provider’s stock worth $12,472,000 after acquiring an additional 2,003 shares in the last quarter. Institutional investors own 68.01% of the company’s stock.

BB&T Company Profile

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

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Analyst Recommendations for BB&T (NYSE:BBT)

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