BB&T Corporation (BBT) Releases Earnings Results, Beats Expectations By $0.05 EPS

BB&T Corporation (BBT) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. BBT said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.71. The company posted revenue of $2814.00 million in the period, compared to analysts expectations of $2793.10 million. BBT’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on BB&T Corporation. Shares were Downgraded by FBR & Co. on Oct 11, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 40 from a previous price target of $45 .

BB&T Corporation opened for trading at $38.4 and hit $38.475 on the upside on Friday, eventually ending the session at $37.89, with a gain of 0.05% or 0.02 points. The heightened volatility saw the trading volume jump to 79,65,854 shares. Company has a market cap of $30,861 M.

In a different news, on Sep 2, 2016, I. Patricia Henry (director) sold 1,000 shares at $38.13 per share price. According to the SEC, on Sep 1, 2016, Kelly S King (Chairman and CEO) sold 162,415 shares at $38.25 per share price. On Aug 31, 2016, W Bennett Bradley (Sr. Executive Vice President) sold 5,000 shares at $38.11 per share price, according to the Form-4 filing with the securities and exchange commission.

BB&T Corporation (BB&T) is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary Branch Bank and other nonbank subsidiaries. BB&T’s operations are divided into six reportable business segments: Community Banking Residential Mortgage Banking Dealer Financial Services Specialized Lending Insurance Services and Financial Services and Other Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets including small and mid-size businesses public agencies local governments and individuals through 1839 offices as of December 31 2014. BB&T’s subsidiaries offer a range of retail and commercial services to retail and commercial clients.

BB&T Corporation

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