Growth by acquisition continues with its purchase of SUSQ, setting up further gains in the years ahead.
I like BBT as a core holding in the financial space for its dividend and safety.
BB&T (NYSE:BBT) shareholders have certainly enjoyed some large gains since the financial crisis. The well managed regional bank, which calls the southeastern U.S. its home, has a reputation of more conservative lending practices and a more traditional banking model. In other words, BBT likes to bring in deposits and lend them out, a practice many of its larger brethren have forgotten how to do. But 2014 hasn’t seen more gains for BBT as the stock spent most of the year bouncing between $36 and $39, where it trades now. Is the consolidation and trading range a sign that a top has been made or that the stock is taking a breather before heading higher once more? In this article I’ll take a look at BBT to see if there could be another rally coming or if it might be time to move on.
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Taking a look at the company’s recent performance, BB&T Corporation (BBT) reported Third quarter earnings for fiscal 2014 on October 16th. The company reported actual earnings per share of $0.71 against the consensus Street estimate of $0.71 this represents year over year growth of 1.41%. BB&T Corporation (BBT) posted revenue of $2.32 billion against estimates of $2.30 billion.
BB&T Corporation (BBT) is currently valued at $25.69 billion and closed the last trading session at $35.66. The stock has a 50-day moving average of $37.91 and a 200-day moving average of $37.67.
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There are currently twenty three analysts that we track that cover the stock. Of those twenty three, ten have a Buy rating and thirteen have a Hold rating. On a consensus basis this yields a score of 2.43 and a Hold. The combined price objective of these covering analysts is $40.97, which represents a 14.89% upside difference to the last closing price.
The most recent analyst activity consisted of Sterne Agee upgrading their Buy stance on the company. Sterne Agee has a price target of $43.00. On the date of the report, the stock closed at $36.76.
Another research firm weighing in recently was Goldman Sachs who downgraded their rating on the stock. On October 23rd Goldman Sachs also decreased their price target on the stock from $41.00 to $39.00, or a 9.36% downside to the current price. On the day of the report, BBT shares closed at $36.24.
BB&T Corporation (NYSE:BBT) operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services. The company’s deposit products include noninterest-bearing checking accounts, interest-bearing checking accounts, savings accounts, money market deposit accounts, certificates of deposit, and individual retirement accounts. Its loan portfolio comprises commercial, financial, and agricultural loans; real estate construction and land development loans; real estate mortgage loans; and consumer loans. The company also provides automobile lending, bankcard lending, consumer finance, home equity and mortgage lending, insurance, investment brokerage services, mobile/online banking services, payment solutions, sales finance, small business lending, and wealth management/private banking services to retail customers.