Great post, but one thing you forgot to mention is that the market was paying a premium for BBT's profit growth in those years.
I think if you'll check you will find that their P/E was higher than most other banks and part of the reason was the growth in earnings.
Check the last few years and you will find a different situation and that may very well be reflected in the current share price.
Another thing you might want to check is the percentage of the earnings that the dividend now consumes. The last few years the dividend has been increasing yearly without the same increase in earnings.
What would make you think that the company is now going to be pushing earnings upward? What is different from the last three years or so?