BB&T (BBT) Given Buy Rating at Vining Sparks

BB&T (NYSE:BBT)‘s stock had its “buy” rating restated by equities research analysts at Vining Sparks in a research report issued to clients and investors on Monday, January 8th. They presently have a $59.00 price objective on the insurance provider’s stock. Vining Sparks’ target price suggests a potential upside of 11.03% from the company’s previous close.

Several other brokerages have also commented on BBT. SunTrust Banks restated a “buy” rating and issued a $50.00 price target on shares of BB&T in a research note on Thursday, October 12th. Morgan Stanley upgraded shares of BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock in a research note on Monday, January 8th. Zacks Investment Research lowered shares of BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reiterated a “hold” rating and set a $48.00 price objective on shares of BB&T in a research note on Sunday, October 22nd. Finally, Jefferies Group reiterated a “hold” rating and set a $49.00 price objective on shares of BB&T in a research note on Friday, September 15th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.00.

Shares of BB&T (NYSE:BBT) traded down $0.02 during mid-day trading on Monday, hitting $53.14. 4,418,400 shares of the stock traded hands, compared to its average volume of 3,641,511. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. BB&T has a twelve month low of $41.17 and a twelve month high of $53.91. The company has a market capitalization of $41,920.00, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the company posted $0.76 earnings per share. BB&T’s revenue was up 1.4% on a year-over-year basis. equities research analysts expect that BB&T will post 3.1 earnings per share for the current fiscal year.

In related news, Chairman Kelly S. King sold 66,372 shares of BB&T stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.53, for a total value of $3,154,661.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP W Bennett Bradley sold 7,762 shares of BB&T stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $48.16, for a total transaction of $373,817.92. Following the completion of the sale, the executive vice president now directly owns 24,341 shares of the company’s stock, valued at approximately $1,172,262.56. The disclosure for this sale can be found here. Insiders have sold a total of 182,150 shares of company stock valued at $8,712,859 in the last three months. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC bought a new position in shares of BB&T during the 2nd quarter worth about $111,000. Kistler Tiffany Companies LLC increased its holdings in shares of BB&T by 102.6% during the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 1,193 shares during the period. Highstreet Asset Management Inc. increased its holdings in shares of BB&T by 105.3% during the 3rd quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 1,566 shares during the period. Cable Hill Partners LLC increased its holdings in shares of BB&T by 7,184.0% during the 3rd quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock worth $171,000 after purchasing an additional 3,592 shares during the period. Finally, Zions Bancorporation increased its holdings in shares of BB&T by 120.5% during the 3rd quarter. Zions Bancorporation now owns 3,704 shares of the insurance provider’s stock worth $174,000 after purchasing an additional 2,024 shares during the period. Hedge funds and other institutional investors own 65.28% of the company’s stock.

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About BB&T

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.

Analyst Recommendations for BB&T (NYSE:BBT)

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