BB&T Corporation (BBT) Stock Rating Reaffirmed by Citigroup Inc.

BB&T Corporation (NYSE:BBT)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued to investors on Monday. They presently have a $49.00 price target on the insurance provider’s stock, up from their previous price target of $47.00. Citigroup Inc.’s price target suggests a potential upside of 2.70% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research report on Friday, July 14th. Hilliard Lyons cut shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 price target on shares of BB&T Corporation in a research report on Friday, June 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of BB&T Corporation in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. BB&T Corporation presently has a consensus rating of “Hold” and an average target price of $47.88.

Shares of BB&T Corporation (BBT) opened at 47.71 on Monday. The company has a 50 day moving average price of $45.74 and a 200-day moving average price of $44.83. BB&T Corporation has a 52-week low of $37.40 and a 52-week high of $49.88. The firm has a market cap of $38.55 billion, a P/E ratio of 17.81 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that BB&T Corporation will post $2.81 earnings per share for the current fiscal year.

BB&T Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: This article was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/bbt-corporation-bbt-stock-rating-reaffirmed-by-citigroup-inc.html.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,610 shares of company stock worth $2,618,364. Insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of BB&T Corporation during the 2nd quarter worth approximately $111,000. Community Bank N.A. increased its stake in shares of BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T Corporation during the 2nd quarter worth approximately $136,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 purchasing an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of B

Several other equities analysts have also recently weighed in on the stock. BidaskClub cut shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research report on Friday, July 14th. Hilliard Lyons cut shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 price target on shares of BB&T Corporation in a research report on Friday, June 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of BB&T Corporation in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. BB&T Corporation presently has a consensus rating of “Hold” and an average target price of $47.88.

Shares of BB&T Corporation (BBT) opened at 47.71 on Monday. The company has a 50 day moving average price of $45.74 and a 200-day moving average price of $44.83. BB&T Corporation has a 52-week low of $37.40 and a 52-week high of $49.88. The firm has a market cap of $38.55 billion, a P/E ratio of 17.81 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that BB&T Corporation will post $2.81 earnings per share for the current fiscal year.

BB&T Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: This article was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/11/bbt-corporation-bbt-stock-rating-reaffirmed-by-citigroup-inc.html.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,610 shares of company stock worth $2,618,364. Insiders own 0.36% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of BB&T Corporation during the 2nd quarter worth approximately $111,000. Community Bank N.A. increased its stake in shares of BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T Corporation during the 2nd quarter worth approximately $136,000. Guardian Life Insurance Co. of America increased its stake in shares of 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 purchasing an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. increased its stake in shares of BB&T Corporation by 51.1% during the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 1,045 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

About BB&T Corporation

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 Corporation (NYSE:BBT)

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