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Last $40.27 USD
Change Today -0.34 / -0.84%
Volume 11.7M
BBT On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

bb&t corp (BBT) Key Developments

BB&T Corporation Announces regular quarterly dividends on Common Stock and Preferred Stocks, Payable on September 1, 2015

The board of directors of BB&T Corporation declared the regular quarterly dividends payable September 1, 2015, to shareholders of record at the close of business August 14, 2015. The company declared a dividend of $0.27 per common share. The company also declared a dividend of $365.625 per share (equivalent to $0.365625 per depositary share or 1/1,000th interest per share) on BB&T's Series D Non-Cumulative Perpetual Preferred Stock; a dividend of $351.5625 per share (equivalent to $0.3515625 per depositary share or 1/1,000th interest per share) on BB&T's Series E Non-Cumulative Perpetual Preferred Stock; a dividend of $325.000 per share (equivalent to $0.325000 per depositary share or 1/1,000th interest per share) on BB&T's Series F Non-Cumulative Perpetual Preferred Stock; a dividend of $325.000 per share (equivalent to $0.325000 per depositary share or 1/1,000th interest per share) on BB&T's Series G Non-Cumulative Perpetual Preferred Stock.

BB&T Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Tax Rate Guidance for the Year 2015

BB&T Corporation reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income available to common shareholders of $454 million, compared to $424 million earned in the second quarter of 2014, an increase of 7.1%. Earnings per diluted common share totaled $0.62 for the quarter compared to $0.58 for the second quarter of last year, an increase of 6.9%. Net income available to common shareholders was affected by $25 million in pre-tax merger-related charges ($16 million after-tax), or $0.02 per diluted share, and a $34 million after-tax loss on the sale of American Coastal, or $0.05 per diluted share. Revenues were $2.4 billion, up $31 million, or 1.3% compared with the second quarter of 2014. These results were driven by continued strength in fee-based businesses. ROA was 1.17%, ROE was 9.06%, and importantly, return on tangible common equity was 14.05%. Net interest income was $1.31 billion, compared to $1.34 billion for the same quarter ended June 30, 2014. For the six months, the company reported net income available to common shareholders of $942 million, or $1.29 per diluted share, compared to $920 million, or $1.27 per diluted share, for the same period ended June 30, 2014. Net interest income was $2.62 billion compared to $2.69 billion for the same period ended June 30, 2014. For the year, the company expects effective tax rate to be around 30%.

BB&T Corporation Mulls Acquisitions

BB&T Corporation (NYSE:BBT) is seeking acquisition. Kelly King, Chairman and Chief Executive of BB&T Corporation said in during a conference call on July 16, 2015, to discuss second-quarter results, “BB&T could add another $10 billion to $20 billion in assets next year through acquisitions. There are a number of institutions - let's just say in the $5 billion to $20 billion range - that I think are considering their strategic alternatives and may present some availabilities. Management is also on the hunt for insurance businesses as it looks to build on the existing operations of Susquehanna's insurance subsidiary.”

James Witty to Take over as Maryland President for BB&T

Greater Baltimore has to keep waiting to find out whether area branches will shutter after BB&T Corp. closes its $2.5 billion purchase of Susquehanna Bancshares Inc., even after regulators approved the deal on July 07, 2015. James Witty will take over as Maryland president for BB&T after the acquisition closes, likely Aug. 1, 2015.

The Bank of Kentucky Financial Corporation's Articles of Incorporation and the Second Amended and Restated By-Laws Ceases to Be in Effect by Operation of Law and the Organizational Documents of BB&T Corporation

On June 19, 2015, pursuant to the merger agreement, The Bank of Kentucky Financial Corporation was merged into BB&T Corporation, with BB&T as the surviving. Immediately following the merger, The Bank of Kentucky Inc. was merged into Branch Banking and Trust Company, with Branch Banking and Trust Company as the surviving entity. As of the effective time of the merger, the articles of incorporation and the second amended and restated by-laws of the company ceased to be in effect by operation of law and the organizational documents of BB&T (as successor to the company by operation of law) remained the articles of incorporation and bylaws of BB&T.

 

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Industry Analysis

BBT

Industry Average

Valuation BBT Industry Range
Price/Earnings 14.6x
Price/Sales 3.3x
Price/Book 1.3x
Price/Cash Flow 13.6x
TEV/Sales NM Not Meaningful
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