BB&T (NYSE:BBT) Raised to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of BB&T (NYSE:BBT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have $58.00 price target on the insurance provider’s stock, up from their prior price target of $52.00. Jefferies Financial Group also issued estimates for BB&T’s Q4 2019 earnings at $1.11 EPS, Q1 2020 earnings at $1.08 EPS, Q2 2020 earnings at $1.09 EPS, Q3 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.22 EPS, FY2020 earnings at $4.50 EPS and FY2021 earnings at $4.90 EPS.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the stock a buy rating in a research note on Friday, August 16th. UBS Group reduced their price target on shares of BB&T from $55.00 to $53.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. ValuEngine downgraded shares of BB&T from a hold rating to a sell rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price target on shares of BB&T from $51.50 to $50.50 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Finally, Morgan Stanley set a $51.00 price target on shares of BB&T and gave the company a hold rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $54.27.

Shares of BBT stock opened at $52.00 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87. The firm’s 50-day moving average is $50.39 and its two-hundred day moving average is $49.26. BB&T has a 12 month low of $40.68 and a 12 month high of $53.90. The company has a market capitalization of $39.07 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. BB&T’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts forecast that BB&T will post 4.2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 14th were paid a dividend of $0.45 per share. This is an increase from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 3.46%. BB&T’s dividend payout ratio is presently 44.44%.

In related news, Director K. David Jr. Boyer sold 4,285 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,099,147 shares of company stock worth $714,407,173. 0.49% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in BB&T by 34.3% during the 1st quarter. Advisory Services Network LLC now owns 49,790 shares of the insurance provider’s stock worth $2,317,000 after acquiring an additional 12,729 shares in the last quarter. ZWJ Investment Counsel Inc. grew its holdings in BB&T by 4.4% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 29,093 shares of the insurance provider’s stock worth $1,354,000 after acquiring an additional 1,228 shares in the last quarter. Banyan Capital Management Inc. grew its holdings in BB&T by 3.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 61,361 shares of the insurance provider’s stock worth $3,015,000 after acquiring an additional 2,005 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in BB&T by 6.7% during the 2nd quarter. Asset Management One Co. Ltd. now owns 553,837 shares of the insurance provider’s stock worth $27,207,000 after acquiring an additional 34,749 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in BB&T by 3.1% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 31,024 shares of the insurance provider’s stock worth $1,524,000 after acquiring an additional 924 shares in the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for BB&T (NYSE:BBT)

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