Well, it has now been 8 years. The share price ended at $40.31 on 12/31/1998 and closed Friday at $43.93. That's a gain of $3.62 for 8 years plus dividends. Let's see that is 45 cents a year or about a 1.1% average yearly gain not counting the dividends.
Great article in the Charlotte Observer dated December 30, 2006 showing the returns of the Carolinas 50 which are the 50 largest companies as measured by revenue based in North and South Carolina.
Good old BB&T ranked 36 out of 50 for last year. BAC, WB and First Citizens Bankhares out performed them. Even several of the utilites out performed them and a couple grocery chains.
Jim , here we are another year waiting and waiting . You Sir are exactly right and I remember this very subject last year an the year before. Every year someone on this boards cherry picks a year to tell us both how great a investment this has been. I am with you .
If this is such a great investment why year after year are management selling their options. Five years ago I ask how they were getting these outragous stock options . Oh ,I was told they were puts from years before ,well its 2007 and they are still getting them cashing them in an making off like bandits while we pay for their stock options .
1. BB&T 120 Billion RF 140 Billion
2. Dowd Ritter hasn't been 'trying for years' to put together a bank like Regions. Far from it, this job pretty much fell into his lap. Consider that the former CEO of Regions came into his job there in the same way that Ritter did. To boot, Ritter and Amsouth hadn't done a merger in years, not even a small one from what I can tell. Where is the insane ambition there? Sounds like a relatively laid back approach to me. In short, you're basically pretending that Ritter is too power-hungry to give up control of Regions given the opportunity that BB&T presents. From the sounds of it, I doubt you have any familiarity with him, probably about as much as you have with John Allison.
So what if Regions is slightly larger. BB&T is much more efficiently run and more profitable than Regions. The scale of their merger is ridiculous and I am surprised that the Street hasn't taken this into account. Banks have loss their shirts on deals much smaller than this one. Even in the unlikely event that Regions somehow mananges to weather this radical makeover merger, Doug Ritter will soon realize that Regions has little choice but to accept the next overture from BB&T as they their growth potential is severely limited. If John Allison gives Doug Ritter a place within the new organization, look for him to jump at the offer.
If SunTrust is still around one to two years after BB&T acquires Regions, look for them to be absorbed by BB&T, thus creating the ultimate southeastern banking dynamo.
Ms. Pillton to you please. You dont know me. Thank God.
I never said Allison would succumB to Regions. Obviously in your advanced age you are unable to comprehend what you read. I said Ritter will never give up the reigns of Regions, that he has recently acquired, to a smaller bank like BBT.
And BBT WILL be sold in 2007. Allison has little choice unless he wants to merge with SunTrust, assume the SunTrust name and move to Atlanta. I have no problem with Allison running a "New SunTrust" but his NC ego wont allow it.
Now Haris, don't get excited, I believe the word is succumb, to submit to an overpowering force or yield to an overwhelming desire, whereas succum is someone who just really pisses you off, like me, beduccum. JA does not, and will not succumb. Stick around, perhaps with another new nick, and watch.
Let me get this straight.
You are saying that BBT with 108B in assets is going to acquire Regions with 148B in assets.
And you are also saying that Dowd Ritter who has been trying for years to put together a bank like Regions is going to succum to Allison.
I think you are the one who knows very litte.
If you think that Allison is going to sell to Regions, then you know even less than I thought. JA will lead a the new BB&T after they acquire Regions in a buyout or MOE. The Regions CEO has said that he has a great deal of respect for the BB&T organization.
And who do you think will be there first to bail out Regions when the integration falters? Probably the bank that has already built inroads with them. Several analysts have gone on record describing the same scenario for a BB&T takeover of Regions. Talk to some people who know the banking community and you'll understand what I'm talking about.
Perhaps it's just the ignorance is bliss crowd not knowing how to make make $ off this stock, the previous employee who realized too late I'm not going to have it handed to me, or that the previous CEO made promises never intended to keep, or the stuck on 1998 crowd who enjoy self flagellation, because all the above certainly aren't bothering me one bit, and a friendly reminder to the 5 to 12 months crowd, it ain't gonna happen folks. Let it go
A great investment...for someone like Stil; I'm sure that he gets his initial investment back in a pretty short period of time via divs as does a good friend of mine who I think told me he gets back his investment every 3 years. He's living off the div...it's a bond...an annuity...
A great investment...for someone like me "stil" buying via reinvestment and otherwise; with some shares having an 8 buck cost basis through some bought out S&L's. One day I hope BBT will turn in to my annuity (the stock was recently acknowledged as one of the top dividend paying/div increasing stocks-- I think by S&P--my reinvests have a return as high as just under 33.5%...that return from the 5/2/03 reinvest.
IF somebody bought 100 shares on a certain day, didn't reinvest and stood pat--yep--bad call. Frankly, that's not investing, is it? More like a bet.
BBT is a great investment, will continue to be and if/when it is bought out there will be a nice pop. Until then reinvest and let time be a friend not an enemy.