BB&T Co. (NYSE:BBT) Receives $55.00 Average Target Price from Analysts

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Shares of BB&T Co. (NYSE:BBT) have been assigned a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $55.00.

BBT has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded BB&T from a “hold” rating to a “buy” rating and raised their price target for the company from $52.00 to $58.00 in a research report on Tuesday, October 8th. Morgan Stanley set a $51.00 price target on BB&T and gave the company a “hold” rating in a research report on Friday, August 9th. Deutsche Bank set a $59.00 price target on BB&T and gave the company a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Co set a $55.00 price target on BB&T and gave the company a “buy” rating in a research report on Friday, August 16th.

NYSE:BBT traded up $1.05 during trading hours on Friday, hitting $54.10. The company’s stock had a trading volume of 3,485,162 shares, compared to its average volume of 4,585,730. The business’s 50-day moving average is $52.67 and its two-hundred day moving average is $49.85. The company has a market capitalization of $40.65 billion, a PE ratio of 13.36, a PEG ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85. BB&T has a 52-week low of $40.68 and a 52-week high of $54.41.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. BB&T had a return on equity of 12.25% and a net margin of 23.17%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. BB&T’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that BB&T will post 4.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, November 7th. BB&T’s dividend payout ratio is presently 44.44%.

In other BB&T news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director K. David Jr. Boyer sold 4,285 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,077,442 shares of company stock valued at $713,290,667. 0.49% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of BB&T by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock worth $3,006,637,000 after acquiring an additional 1,125,819 shares during the period. Bank of America Corp DE lifted its holdings in shares of BB&T by 6.8% during the 2nd quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock worth $926,077,000 after acquiring an additional 1,203,362 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of BB&T by 4.3% during the 2nd quarter. Macquarie Group Ltd. now owns 15,426,112 shares of the insurance provider’s stock worth $757,885,000 after acquiring an additional 633,529 shares during the period. Northern Trust Corp lifted its holdings in shares of BB&T by 0.5% during the 2nd quarter. Northern Trust Corp now owns 11,353,698 shares of the insurance provider’s stock worth $557,808,000 after acquiring an additional 60,096 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of BB&T by 3.9% during the 2nd quarter. Royal Bank of Canada now owns 8,082,503 shares of the insurance provider’s stock worth $397,092,000 after acquiring an additional 301,500 shares during the period. Institutional investors own 70.11% 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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