BB&T (NYSE:BBT) had its price objective reduced by UBS Group from $55.00 to $53.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have a neutral rating on the insurance provider’s stock.
Other analysts have also issued research reports about the company. Deutsche Bank reissued a hold rating on shares of Tata Motors in a report on Tuesday, March 26th. Morgan Stanley cut Silicon Motion Technology from an equal weight rating to an underweight rating in a research note on Monday, April 22nd. Raymond James reaffirmed a buy rating on shares of Teck Resources in a report on Thursday, April 4th. JPMorgan Chase & Co. assumed coverage on Pinduoduo in a research report on Tuesday, July 9th. They set an underweight rating and a $20.48 price objective on the stock. Finally, ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $53.22.
Shares of NYSE BBT opened at $50.45 on Wednesday. The business has a 50 day moving average price 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 current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $38.64 billion, a P/E ratio of 12.46, a PEG ratio of 1.26 and a beta of 1.13.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that BB&T will post 4.24 earnings per share for the current year.
In related news, insider Donta L. Wilson sold 3,418 shares of BB&T stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the sale, the insider now owns 14,911 shares of the company’s stock, valued at $733,024.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 2,651 shares of BB&T stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total value of $130,482.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,569 shares of company stock valued at $419,336. Company insiders own 0.49% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of BB&T by 10.7% in the first quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock worth $2,761,026,000 after buying an additional 5,759,090 shares during the last quarter. Macquarie Group Ltd. grew its position in BB&T by 1.1% during the fourth quarter. Macquarie Group Ltd. now owns 14,568,592 shares of the insurance provider’s stock valued at $631,112,000 after buying an additional 162,458 shares during the period. Northern Trust Corp grew its position in BB&T by 1.5% during the first quarter. Northern Trust Corp now owns 11,293,602 shares of the insurance provider’s stock valued at $525,492,000 after buying an additional 163,933 shares during the period. Geode Capital Management LLC increased its holdings in BB&T by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after buying an additional 590,366 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in BB&T by 0.6% during the first quarter. American Century Companies Inc. now owns 9,180,892 shares of the insurance provider’s stock valued at $427,187,000 after buying an additional 55,869 shares during the last quarter. 68.01% of the stock is currently owned by institutional investors.
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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