BB&T Co. (NYSE:BBT) Increases Dividend to $0.45 Per Share

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BB&T Co. (NYSE:BBT) declared a quarterly dividend on Tuesday, July 30th, RTT News reports. Investors of record on Wednesday, August 14th will be given a dividend of 0.45 per share by the insurance provider on Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 3.96%. This is an increase from BB&T’s previous quarterly dividend of $0.41.

BB&T has increased its dividend payment by an average of 13.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. BB&T has a dividend payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Analysts expect BB&T to earn $4.29 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 42.0%.

Shares of NYSE:BBT opened at $45.45 on Friday. The firm has a market capitalization of $35.80 billion, a PE ratio of 10.99, a P/E/G ratio of 1.19 and a beta of 1.12. BB&T has a 12 month low of $40.68 and a 12 month high of $53.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87. The business has a 50-day moving average of $49.40 and a two-hundred day moving average of $49.26.

BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.01 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. BB&T’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, research analysts anticipate that BB&T will post 4.23 earnings per share for the current year.

A number of research analysts recently commented on the company. Morgan Stanley set a $51.00 price target on BB&T and gave the company a “hold” rating in a report on Friday, August 9th. Deutsche Bank set a $59.00 target price on BB&T and gave the stock a “buy” rating in a report on Friday, July 26th. UBS Group reduced their target price on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.86.

In related news, Director Louis B. Lynn sold 2,500 shares of BB&T stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Company insiders own 0.49% 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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Dividend History for BB&T (NYSE:BBT)

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