BB&T Soars to a New 52-Week High - Analyst Blog

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Shares of BB&T Corporation ( BBT ) achieved a new 52-week high, touching $36.46 at the end of the trading session on Aug 2. The closing price of this global banking major reflected a solid year-to-date return of 22.9%. The trading volume for the session was 3.2 million shares.

Despite the strong price appreciation, this Zacks Rank #3 (Hold) has plenty of upside left, given its estimate revisions over the past 30 days and expected year-over-year earnings growth of 6.3% for 2013.

Growth Drivers

Impressive second-quarter 2013 results comprising a positive earnings surprise of 5.5%, improving loan and deposit balances, strong capital position and enhanced credit quality were the primary growth drivers for BB&T.

On Jul 18, BB&T reported second-quarter earnings per share of 77 cents, surpassing the Zacks Consensus Estimate by a sliver. Moreover, the earnings were higher than the prior-year quarter figure of 72 cents.

The better-than-expected results were primarily driven by a surge in non-interest income, partially offset by declining net interest income and increased operating expenses. 

Additionally, BB&T has delivered positive earnings surprises in 3 of the past 4 quarters with an average beat of 3.9%.

Estimate Revisions

For BB&T, over the last 30 days, 9 of the 14 estimates for 2013 have been revised upward, raising the Zacks Consensus Estimate by nearly 1% to $2.92 per share. For 2014, the Zacks Consensus Estimate has remained stable at $3.09 per share, over the same time frame.

Some better performing banks include Citigroup, Inc. ( C ), The PNC Financial Services Group, Inc. ( PNC ) and KeyCorp. ( KEY ). All these stocks carry a Zacks Rank #2 (Buy).

Some better performing banks include Citigroup, Inc. (C), The PNC Financial Services Group, Inc. (PNC) and KeyCorp. (KEY). All these stocks carry a Zacks Rank #2 (Buy).Shares of BB&T Corporation (BBT) achieved a new 52-week high, touching $36.46 at the end of the trading session on Aug 2. The closing price of this global banking major reflected a solid year-to-date return of 22.9%. The trading volume for the session was 3.2 million shares.

Despite the strong price appreciation, this Zacks Rank #3 (Hold) has plenty of upside left, given its estimate revisions over the past 30 days and expected year-over-year earnings growth of 6.3% for 2013.

Growth Drivers

Impressive second-quarter 2013 results comprising a positive earnings surprise of 5.5%, improving loan and deposit balances, strong capital position and enhanced credit quality were the primary growth drivers for BB&T.

On Jul 18, BB&T reported second-quarter earnings per share of 77 cents, surpassing the Zacks Consensus Estimate by a sliver. Moreover, the earnings were higher than the prior-year quarter figure of 72 cents.

The better-than-expected results were primarily driven by a surge in non-interest income, partially offset by declining net interest income and increased operating expenses. 

Additionally, BB&T has delivered positive earnings surprises in 3 of the past 4 quarters with an average beat of 3.9%.



BB&T CORP (BBT): Free Stock Analysis Report

CITIGROUP INC (C): Free Stock Analysis Report

KEYCORP NEW (KEY): Free Stock Analysis Report

PNC FINL SVC CP (PNC): Free Stock Analysis Report

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Zacks Investment Research



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: BBT , C , KEY , PNC

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