BB&T Co. (NYSE:BBT) – Stock analysts at Jefferies Financial Group lowered their Q3 2019 earnings estimates for shares of BB&T in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now anticipates that the insurance provider will post earnings of $1.01 per share for the quarter, down from their previous forecast of $1.02. Jefferies Financial Group also issued estimates for BB&T’s Q4 2019 earnings at $1.04 EPS, FY2019 earnings at $4.20 EPS, FY2020 earnings at $4.55 EPS and FY2021 earnings at $5.15 EPS.
Several other equities analysts have also recently issued reports on BBT. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James reiterated a “buy” rating on shares of Teck Resources in a research report on Thursday, April 4th. UBS Group boosted their target price on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley cut Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Finally, Deutsche Bank reiterated a “hold” rating on shares of Tata Motors in a research report on Tuesday, March 26th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. BB&T has a consensus rating of “Hold” and a consensus target price of $53.22.
BB&T (NYSE:BBT) last released its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis.
A number of large investors have recently made changes to their positions in BBT. Norges Bank acquired a new stake in BB&T during the 4th quarter valued at $302,329,000. BlackRock Inc. grew its holdings in BB&T by 10.7% during the 1st quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock valued at $2,761,026,000 after buying an additional 5,759,090 shares during the last quarter. Boston Partners grew its holdings in BB&T by 59.9% during the 1st quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock valued at $266,982,000 after buying an additional 2,150,335 shares during the last quarter. River Road Asset Management LLC grew its holdings in BB&T by 38.2% during the 1st quarter. River Road Asset Management LLC now owns 2,155,041 shares of the insurance provider’s stock valued at $100,274,000 after buying an additional 595,260 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in BB&T by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after buying an additional 590,366 shares during the last quarter. Hedge funds and other institutional investors own 68.01% of the company’s stock.
In other BB&T news, insider Donta L. Wilson sold 3,418 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $49.16, for a total transaction of $168,028.88. Following the sale, the insider now owns 14,911 shares in the company, valued at approximately $733,024.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Louis B. Lynn sold 2,500 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total value of $120,825.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,569 shares of company stock worth $419,336. 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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