BB&T (NYSE:BBT) Releases Earnings Results, Beats Estimates By $0.01 EPS

Share on StockTwits

BB&T (NYSE:BBT) released its earnings results on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01, MarketWatch Earnings reports. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis.

Shares of BBT traded up $0.63 during mid-day trading on Friday, hitting $50.76. The stock had a trading volume of 8,034,420 shares, compared to its average volume of 5,718,692. The firm has a market cap of $38.65 billion, a PE ratio of 16.17, a PEG ratio of 1.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. BB&T has a 52 week low of $45.73 and a 52 week high of $56.31.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a dividend yield of 3.19%. BB&T’s payout ratio is presently 51.59%.

In other BB&T news, Director Nido R. Qubein sold 2,825 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $50.19, for a total value of $141,786.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the completion of the sale, the director now owns 4,375 shares in the company, valued at $216,562.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

A number of brokerages have commented on BBT. B. Riley set a $56.00 target price on BB&T and gave the company a “buy” rating in a research report on Monday, October 15th. ValuEngine cut BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut BB&T from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 target price on shares of BB&T in a research report on Friday, July 20th. Finally, FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. BB&T currently has a consensus rating of “Buy” and an average price target of $55.50.

ILLEGAL ACTIVITY WARNING: “BB&T (NYSE:BBT) Releases Earnings Results, Beats Estimates By $0.01 EPS” was first published by Equities Focus and is the sole property of of Equities Focus. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.equitiesfocus.com/2018/11/10/bbt-bbt-announces-quarterly-earnings-results.html.

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.

Further Reading: Understanding each part of a balance sheet

Earnings History for BB&T (NYSE:BBT)

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply