BB&T (BBT) Given New $53.00 Price Target at Morgan Stanley

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BB&T (NYSE:BBT) had its price target reduced by Morgan Stanley from $56.00 to $53.00 in a report released on Monday, AnalystRatings.com reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Several other analysts have also weighed in on the company. Bank of America lowered BB&T from a buy rating to an underperform rating and set a $48.00 price objective on the stock. in a report on Thursday, January 10th. They noted that the move was a valuation call. Odeon Capital Group initiated coverage on BB&T in a report on Friday, March 8th. They set a buy rating on the stock. Stephens lowered BB&T from an overweight rating to an equal weight rating in a report on Wednesday, March 6th. Deutsche Bank lowered BB&T from a buy rating to a hold rating and set a $49.08 price objective on the stock. in a report on Friday, January 25th. Finally, Barclays lifted their price objective on BB&T from $58.00 to $59.00 and gave the stock an equal weight rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $53.28.

Shares of NYSE:BBT opened at $49.24 on Monday. BB&T has a 1-year low of $40.68 and a 1-year high of $56.03. The company has a market cap of $37.81 billion, a PE ratio of 12.16, a PEG ratio of 1.22 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.89.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm earned $0.94 EPS. BB&T’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts expect that BB&T will post 4.29 EPS for the current year.

In related news, Director Patrick C. Graney III purchased 3,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were acquired at an average price of $51.04 per share, with a total value of $198,545.60. Following the purchase, the director now directly owns 11,456 shares in the company, valued at $584,714.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I. Patricia Henry sold 2,289 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $51.51, for a total value of $117,906.39. Following the completion of the sale, the director now directly owns 4,543 shares in the company, valued at approximately $234,009.93. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in BBT. Norges Bank acquired a new stake in BB&T in the 4th quarter valued at $302,329,000. BlackRock Inc. raised its position in BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock valued at $2,321,062,000 after purchasing an additional 4,086,502 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in BB&T by 4,179.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,647,587 shares of the insurance provider’s stock valued at $84,000 after purchasing an additional 3,562,345 shares during the last quarter. Bahl & Gaynor Inc. raised its position in BB&T by 46.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,561,520 shares of the insurance provider’s stock valued at $240,925,000 after purchasing an additional 1,753,162 shares during the last quarter. Finally, Vanguard Group Inc raised its position in BB&T by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after purchasing an additional 939,154 shares during the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

About BB&T

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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