BB&T Corporation (BBT) Receives “Hold” Rating from Jefferies Group LLC

BB&T Corporation (NYSE:BBT)‘s stock had its “hold” rating restated by analysts at Jefferies Group LLC in a report released on Friday. They currently have a $49.00 price objective on the insurance provider’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 11.01% from the stock’s current price.

BBT has been the subject of several other reports. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of BB&T Corporation in a research report on Friday, August 25th. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a research report on Friday, August 4th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a research report on Friday, June 30th. Finally, Wells Fargo & Company started coverage on shares of BB&T Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. BB&T Corporation has an average rating of “Hold” and an average target price of $47.06.

BB&T Corporation (NYSE:BBT) traded up 0.16% during midday trading on Friday, reaching $44.14. 7,616,071 shares of the company’s stock traded hands. The company’s 50-day moving average price is $46.23 and its 200-day moving average price is $44.97. BB&T Corporation has a 52-week low of $36.80 and a 52-week high of $49.88. The stock has a market cap of $35.67 billion, a P/E ratio of 17.94 and a beta of 1.08.

BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting 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 firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company posted $0.71 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that BB&T Corporation will post $2.83 EPS for the current fiscal year.

BB&T Corporation announced that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $1.88 billion in shares. This buyback authorization permits the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total transaction of $410,556.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in BBT. BlackRock Inc. increased its stake in BB&T Corporation by 2,875.1% during the 1st quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after purchasing an additional 45,740,906 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of BB&T Corporation by 3,687.8% in the second quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock worth $185,500,000 after acquiring an additional 3,977,166 shares during the period. Vanguard Group Inc. grew its stake in shares of BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after acquiring an additional 1,656,297 shares during the period. Janus Capital Management LLC grew its stake in shares of BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock worth $149,021,000 after acquiring an additional 1,062,590 shares during the period. Finally, FMR LLC grew its stake in shares of BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after acquiring an additional 998,898 shares during the period. Institutional investors and hedge funds own 64.30% of the company’s stock.

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.

Analyst Recommendations for BB&T Corporation (NYSE:BBT)

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