BB&T Corporation (BBT) Expected to Post Quarterly Sales of $2.86 Billion

Equities analysts forecast that BB&T Corporation (NYSE:BBT) will report sales of $2.86 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for BB&T Corporation’s earnings, with the lowest sales estimate coming in at $2.81 billion and the highest estimate coming in at $2.91 billion. BB&T Corporation posted sales of $2.77 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The firm is expected to issue its next earnings results before the market opens on Thursday, October 19th.

On average, analysts expect that BB&T Corporation will report full year sales of $2.86 billion for the current year, with estimates ranging from $11.28 billion to $11.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.79 billion per share, with estimates ranging from $11.65 billion to $11.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover BB&T Corporation.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS.

BBT has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on shares of BB&T Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price target for the company. BidaskClub downgraded shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Jefferies Group LLC restated a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research note on Friday, September 15th. Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a research note on Friday, August 25th. Finally, Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.80.

In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was 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. Over the last quarter, insiders sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Glassman Wealth Services raised its holdings in BB&T Corporation by 0.4% during the 2nd quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after buying an additional 18 shares during the period. Guardian Life Insurance Co. of America raised its holdings in BB&T Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. WMS Partners LLC raised its holdings in BB&T Corporation by 0.8% during the 2nd quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after buying an additional 36 shares during the period. Canal Capital Management LLC raised its holdings in BB&T Corporation by 0.6% during the 2nd quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares during the period. Finally, Sii Investments Inc. WI raised its holdings in BB&T Corporation by 0.9% during the 2nd quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “BB&T Corporation (BBT) Expected to Post Quarterly Sales of $2.86 Billion” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/10/09/bbt-corporation-bbt-expected-to-post-quarterly-sales-of-2-86-billion.html.

BB&T Corporation (BBT) opened at 47.69 on Monday. The stock has a market cap of $38.54 billion, a P/E ratio of 17.80 and a beta of 1.07. BB&T Corporation has a 12 month low of $37.40 and a 12 month high of $49.88. The firm’s 50-day moving average is $45.65 and its 200-day moving average is $44.77.

BB&T Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

BB&T Corporation Company Profile

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.

Get a free copy of the Zacks research report on BB&T Corporati

On average, analysts expect that BB&T Corporation will report full year sales of $2.86 billion for the current year, with estimates ranging from $11.28 billion to $11.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $11.79 billion per share, with estimates ranging from $11.65 billion to $11.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover BB&T Corporation.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS.

BBT has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on shares of BB&T Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price target for the company. BidaskClub downgraded shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Jefferies Group LLC restated a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research note on Friday, September 15th. Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a research note on Friday, August 25th. Finally, Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.80.

In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was 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. Over the last quarter, insiders sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Glassman Wealth Services raised its holdings in BB&T Corporation by 0.4% during the 2nd quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after buying an additional 18 shares during the period. Guardian Life Insurance Co. of America raised its holdings in BB&T Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. WMS Partners LLC raised its holdings in BB&T Corporation by 0.8% during the 2nd quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after buying an additional 36 shares during the period. Canal Capital Management LLC raised its holdings in BB&T Corporation by 0.6% during the 2nd quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares during the period. Finally, Sii Investments Inc. WI raised its holdings in BB&T Corporation by 0.9% during the 2nd quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “BB&T Corporation (BBT) Expected to Post Quarterly Sales of $2.86 Billion” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/10/09/bbt-corporation-bbt-expected-to-post-quarterly-sales-of-2-86-billion.html.

BB&T Corporation (BBT) opened at 47.69 on Monday. The stock has a market cap of $38.54 billion, a P/E ratio of 17.80 and a beta of 1.07. BB&T Corporation has a 12 month low of $37.40 and a 12 month high of $49.88. The firm’s 50-day moving average is $45.65 and its 200-day moving average is $44.77.

BB&T Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

BB&T Corporation Company Profile

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.

Get a free copy of the Zacks research report on BB&T Corporation (BBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BB&T Corporation (NYSE:BBT)

Receive News & Ratings for BB&T Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply