BB&T Corp (BBT) Gets a Buy Rating from B.Riley FBR

By Carrie Williams

In a report released today, Steve Moss from B.Riley FBR reiterated a Buy rating on BB&T Corp (NYSE: BBT), with a price target of $56. The company’s shares opened today at $48.17.

Moss noted:

“BBT reported 3Q18 core EPS of $1.03, two cents ahead of our estimate and consensus. Results were better-than-expected due to lower-than-expected expenses and higher non-interest income. Management was upbeat about the prospects for revenue growth via net interest income and fees, in addition to well controlled expenses though 2019, which bodes well for the earnings outlook. Given the improved outlook for greater expense control, we raise our 2019 and 2020 estimates. BBT trades at 11.2x our 2019 estimate, which we view as attractive for a quality franchise with a high percentage of fee based revenue (~42%). Accordingly, we reiterate our Buy rating and $56 price target.”

According to TipRanks.com, Moss is a 3-star analyst with an average return of 2.1% and a 45.3% success rate. Moss covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, The Bank of Princeton, and Meta Financial Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BB&T Corp with a $57 average price target, which is a 18.3% upside from current levels. In a report issued on October 9, Vining Sparks also maintained a Buy rating on the stock with a $59 price target.

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Based on BB&T Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.31 billion and net profit of $832 million. In comparison, last year the company earned revenue of $3.02 billion and had a net profit of $640 million.

Based on the recent corporate insider activity of 109 insiders, corporate insider sentiment is negative on the stock.

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BB&T Corp. engages in the provision of banking and trust services through its subsidiaries. It operates through the following segment: Community Banking-Retail; Community Banking-Commercial; Insurance Holdings and Premium Finance; and Financial Services and Commercial Finance; Other, Treasury and Corporate.