BB&T Corp Gets a Buy Rating from Stephens

By Ryan Adsit

In a report released yesterday, Terry McEvoy from Stephens assigned a Buy rating to BB&T Corp (NYSE: BBT), with a price target of $59. The company’s shares opened today at $50.50.

According to TipRanks.com, McEvoy is a 4-star analyst with an average return of 14.8% and a 80.3% success rate. McEvoy covers the Financial sector, focusing on stocks such as Heartland Financial USA, First Midwest Bancorp, and Merchants Bancorp.

Currently, the analyst consensus on BB&T Corp is a Moderate Buy with an average price target of $56.14, representing an 11.2% upside. In a report issued on July 9, BMO Capital also reiterated 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 June 30, the company reported a quarterly revenue of $3.21 billion and net profit of $819 million. In comparison, last year the company earned revenue of $3 billion and had a net profit of $675 million.

Based on the recent corporate insider activity of 112 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.