Bank of America upgraded shares of BB&T (NYSE:BBT) from a neutral rating to a buy rating in a research report report published on Friday morning, Marketbeat Ratings reports. The firm currently has $50.46 target price on the insurance provider’s stock.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded BB&T from a hold rating to a buy rating and set a $55.00 target price on the stock in a research note on Tuesday, October 23rd. B. Riley set a $56.00 target price on BB&T and gave the stock a buy rating in a research note on Monday, October 15th. Argus restated a buy rating on shares of BB&T in a research note on Friday, January 18th. Barclays upped their target price on BB&T from $58.00 to $59.00 and gave the stock an equal weight rating in a research note on Wednesday, January 2nd. Finally, ValuEngine upgraded BB&T from a sell rating to a hold rating in a research note on Thursday, October 18th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $53.96.
Shares of BBT opened at $50.57 on Friday. BB&T has a 52 week low of $40.68 and a 52 week high of $56.31. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $38.72 billion, a PE ratio of 12.49, a P/E/G ratio of 1.09 and a beta of 1.12.
BB&T (NYSE:BBT) last issued its earnings results on Thursday, January 17th. The insurance provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s revenue was up .5% compared to the same quarter last year. On average, research analysts predict that BB&T will post 4.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, February 13th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.62 dividend on an annualized basis and a yield of 3.20%. BB&T’s dividend payout ratio is currently 40.00%.
In other BB&T news, Director Patrick C. Graney III purchased 4,200 shares of the stock in a transaction on Thursday, December 6th. The shares were bought at an average price of $47.56 per share, for a total transaction of $199,752.00. Following the completion of the transaction, the director now owns 4,200 shares of the company’s stock, valued at approximately $199,752. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Wellington Shields Capital Management LLC boosted its position in BB&T by 3.3% during the fourth quarter. Wellington Shields Capital Management LLC now owns 6,970 shares of the insurance provider’s stock worth $302,000 after purchasing an additional 220 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of BB&T by 1.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,505 shares of the insurance provider’s stock valued at $585,000 after acquiring an additional 231 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in shares of BB&T by 19.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock valued at $71,000 after acquiring an additional 240 shares in the last quarter. Reynders McVeigh Capital Management LLC lifted its position in shares of BB&T by 0.9% in the third quarter. Reynders McVeigh Capital Management LLC now owns 32,960 shares of the insurance provider’s stock valued at $1,600,000 after acquiring an additional 280 shares in the last quarter. Finally, Sandy Spring Bank lifted its position in shares of BB&T by 1.7% in the fourth quarter. Sandy Spring Bank now owns 16,724 shares of the insurance provider’s stock valued at $725,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.
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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