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

Posted
8/5/2013 2:36:00 PM
By: Zacks.com
Referenced Stocks:BBT;C;KEY;PNC

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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