Analysts Expect BB&T (BBT) Will Post Quarterly Sales of $2.91 Billion

Wall Street analysts expect BB&T (NYSE:BBT) to report $2.91 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for BB&T’s earnings, with the lowest sales estimate coming in at $2.88 billion and the highest estimate coming in at $2.94 billion. BB&T posted sales of $2.86 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 19th.

According to Zacks, analysts expect that BB&T will report full-year sales of $11.64 billion for the current year, with estimates ranging from $11.37 billion to $11.79 billion. For the next financial year, analysts anticipate that the company will post sales of $12.09 billion per share, with estimates ranging from $11.94 billion to $12.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover BB&T.

BB&T (NYSE:BBT) last released its earnings results on Thursday, April 19th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.85 billion. BB&T had a return on equity of 10.38% and a net margin of 21.63%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS.

Several analysts have recently weighed in on BBT shares. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, January 2nd. Barclays lifted their price objective on BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Robert W. Baird reissued a “hold” rating and set a $50.00 price objective on shares of BB&T in a report on Wednesday, January 3rd. Morgan Stanley raised BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock in a report on Monday, January 8th. Finally, Vining Sparks reissued a “buy” rating and set a $59.00 price objective on shares of BB&T in a report on Monday, January 8th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $54.48.

Shares of NYSE:BBT traded down $0.47 during trading on Friday, hitting $53.32. 3,791,045 shares of the stock were exchanged, compared to its average volume of 4,184,368. BB&T has a 1-year low of $41.17 and a 1-year high of $56.31. The firm has a market capitalization of $42,043.31, a PE ratio of 16.98, a PEG ratio of 1.19 and a beta of 1.04. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.88.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 11th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, May 10th. This is an increase from BB&T’s previous quarterly dividend of $0.33. BB&T’s dividend payout ratio (DPR) is 42.04%.

In other BB&T news, insider Clarke R. Starnes III sold 22,629 shares of BB&T stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $55.40, for a total value of $1,253,646.60. Following the completion of the transaction, the insider now owns 107,933 shares in the company, valued at approximately $5,979,488.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher L. Henson sold 48,524 shares of BB&T stock in a transaction on Friday, January 26th. The shares were sold at an average price of $54.75, for a total value of $2,656,689.00. Following the completion of the transaction, the insider now owns 180,089 shares of the company’s stock, valued at approximately $9,859,872.75. The disclosure for this sale can be found here. Insiders have sold a total of 97,503 shares of company stock valued at $5,349,713 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Delpha Capital Management LLC bought a new position in BB&T in the 4th quarter valued at $106,000. Kistler Tiffany Companies LLC raised its position in shares of BB&T by 102.6% during the fourth quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 1,193 shares during the last quarter. Shamrock Asset Management LLC bought a new stake in shares of BB&T during the fourth quarter worth $123,000. Cerebellum GP LLC bought a new stake in shares of BB&T during the fourth quarter worth $123,000. Finally, Front Row Advisors LLC bought a new stake in shares of BB&T during the fourth quarter worth $142,000. Hedge funds and other institutional investors own 63.89% of the company’s stock.

About BB&T

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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