$2.84 Billion in Sales Expected for BB&T (BBT) This Quarter

Wall Street analysts predict that BB&T (NYSE:BBT) will announce $2.84 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for BB&T’s earnings. The highest sales estimate is $2.87 billion and the lowest is $2.81 billion. BB&T reported sales of $2.78 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The firm is expected to announce its next earnings report before the market opens on Thursday, April 19th.

On average, analysts expect that BB&T will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $11.47 billion to $11.73 billion. For the next year, analysts forecast that the business will post sales of $12.03 billion per share, with estimates ranging from $11.85 billion to $12.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for BB&T.

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BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business posted $0.72 earnings per share. BB&T’s revenue was up 3.6% compared to the same quarter last year.

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $56.00 price objective on shares of BB&T in a report on Thursday. B. Riley upgraded shares of BB&T from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $59.00 in a report on Tuesday, March 27th. Wells Fargo upgraded shares of BB&T from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Tuesday, March 27th. Zacks Investment Research lowered shares of BB&T from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, BMO Capital Markets upgraded shares of BB&T from a “market perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Friday, February 9th. They noted that the move was a valuation call. Fourteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $53.76.

In other news, insider Christopher L. Henson sold 48,524 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $54.75, for a total transaction of $2,656,689.00. Following the completion of the sale, the insider now owns 180,089 shares of the company’s stock, valued at $9,859,872.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 2,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $55.03, for a total transaction of $137,575.00. The disclosure for this sale can be found here. Insiders have sold 170,078 shares of company stock valued at $9,316,414 in the last three months. 0.51% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. grew its position in BB&T by 13.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,029 shares of the insurance provider’s stock valued at $3,929,000 after purchasing an additional 9,112 shares in the last quarter. Wagner Wealth Management LLC bought a new position in BB&T in the fourth quarter valued at $403,000. Colonial Trust Advisors grew its position in shares of BB&T by 37.6% in the 4th quarter. Colonial Trust Advisors now owns 145,994 shares of the insurance provider’s stock valued at $7,259,000 after acquiring an additional 39,893 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of BB&T by 13.1% in the 4th quarter. Xact Kapitalforvaltning AB now owns 91,929 shares of the insurance provider’s stock valued at $4,571,000 after acquiring an additional 10,634 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of BB&T by 1.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 174,981 shares of the insurance provider’s stock valued at $8,701,000 after acquiring an additional 2,457 shares during the period. 63.76% of the stock is owned by institutional investors.

NYSE BBT traded down $1.77 during trading hours on Wednesday, hitting $51.12. The company’s stock had a trading volume of 4,134,536 shares, compared to its average volume of 4,092,069. BB&T has a twelve month low of $41.17 and a twelve month high of $56.31. The firm has a market capitalization of $41,163.84, a P/E ratio of 16.28, a P/E/G ratio of 1.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.87 and a quick ratio of 0.86.

The business also recently disclosed a None dividend, which was paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th were given a dividend of $0.045 per share. This represents a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, March 5th. BB&T’s dividend payout ratio is 42.04%.

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BB&T Company Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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

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