BB&T Corporation (NYSE:BBT) posted its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77, MarketWatch Earnings reports. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. BB&T Corporation’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS.
BB&T Corporation (NYSE:BBT) remained flat at $46.88 during mid-day trading on Friday. The company had a trading volume of 3,667,873 shares. The stock has a market cap of $37.88 billion, a PE ratio of 17.50 and a beta of 1.06. BB&T Corporation has a one year low of $36.21 and a one year high of $49.88. The company has a 50-day moving average price of $45.09 and a 200-day moving average price of $45.10.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.82%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s payout ratio is currently 44.78%.
A number of research analysts have issued reports on the stock. Jefferies Group LLC reissued a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research note on Wednesday, April 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Friday, July 21st. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.43.
BB&T Corporation announced that its board has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
About BB&T Corporation
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.
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