BB&T Corp Gets a Hold from Oppenheimer

By Jason Carr

Oppenheimer analyst Ben Chittenden reiterated a Hold rating on BB&T Corp (NYSE: BBT) yesterday. The company’s shares closed yesterday at $43.67.

Chittenden said:

“BBT reported 1Q17 EPS a bit higher than expected, but the underlying fundamentals were a bit more mixed. Loan growth was lower than our estimate, but NIM higher. Insurance was a bright spot with the rest of the businesses roughly in line outside of IB and brokerage fees. IB/brokerage’s performance is a bit of a head-scratcher given the strength we’ve seen from peers. Overall credit was in line to slightly better than expectations. Given guidance and Street expectations, we think 2Q17 estimates could come down some as management tempers expectations. Overall, this is one of the more optimistic management teams in our coverage regarding government policy coming through in 2H17.”

According to, Chittenden is a 1-star analyst with an average return of -0.4% and a 48.0% success rate. Chittenden covers the Financial sector, focusing on stocks such as Sutherland Asset Management Corporation, America First Tax Exempt LP, and Discover Financial Services.

BB&T Corp has an analyst consensus of Hold, with a price target consensus of $48.75.

Based on BB&T Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.9 billion and quarterly net profit of $636 million. In comparison, last year the company earned revenue of $2.62 billion and had a net profit of $564 million.

Based on the recent corporate insider activity of 130 insiders, corporate insider sentiment is negative on the stock. Last month, Thomas Nichols Thompson, a Director at BBT sold 21,025 shares for a total of $1,003,523.

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BB&T Corp. operates as a holding company for Branch Banking & Trust Co. It conducts its business operations primarily through its commercial bank subsidiary, Branch Bank, and other non-bank subsidiaries. The company operates through the following segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services and Financial Services. The Community Banking segment serves individual and business clients by offering a variety of loan and deposit products and other financial services. It is also responsible for serving client relationships. The Residential Mortgage Banking segment retains and services mortgage loans originated by the banking network as well as those purchased from various correspondent originators. Its Mortgage loan products include fixed and adjustable rate government and conventional loans for the purpose of constructing, purchasing or refinancing residential properties. The Dealer Financial Services segment originates loans to consumers for the purchase of automobiles, boats and recreational vehicles. The Specialized Lending segment include commercial finance, which manages asset-based working capital financing, supply chain financing, export-import finance, accounts receivable management, credit enhancement and mortgage warehouse lending; and governmental finance, which provides tax-exempt financing to meet the capital project needs of local governments. The Insurance Services segment provides property andcasualty, employee benefits and life insurance to businesses and individuals, surety coverage and title insurance to small businesses. The Financial Services segment provides personal trust administration, estate planning, investment counseling, wealth management, asset management, employee benefits services, corporate banking and corporate trust services to individuals, corporations, institutions, foundations and government entities. It also offers clients investment alternatives, including discount brokerage services, equities, fixed-rate and variable-rate annuities, mutual funds and governmental and municipal bonds. The company was founded by Alpheus Branch in 1872 and is headquartered in Winston-Salem, NC.