Here is the bottom line. The analysts who downgraded BB&T after the FVB merger was announced are focused on one thing. Can BB&T cut costs fast enought to make the deal accretive to earnings quickly. Many believe the cost cutting estimates are too aggressive. However, whatever you think of BB&T, they know how to do this stuff better than any other bank. 2.7X book sounds aggressive but what do you expect for a bank like FVB whose ROA/ROE is on par with the top banks in the nation, including BB&T. I say buy share now on the dip and in three years you will be glad you did.
Keep in mind the folks over at BB&T know how to contain costs...their efficiency overhead ratio is 49%...not too shabby!
Take a look at last years stock chart for BB&T....part of the stock decline occurs right after earnings annoucement regardless of a merger. This stock will test 32 and then very quickly bounce right back to the mid 30's. The employees must be licking their chops if they receive any type of stock options in the months ahead!
This might be a little much for you to comprehend (since you seem to have a one-track bashing agenda), but sometimes management needs to think about the long-term. Not the immediate impact of their decisions in the stock market.
I'm glad management is forward thinking. If not, we would have been bought out long ago and not be the player we are today.
On the other hand, I hope you scare some other sheep into selling, as I continue to pick up shares every month...