These prices are blue light specials. In six months, the stock price will be at all time highs and the dividend restored. Shorts have badly underestimated this bank. BBT is WFC on steroids since they don't have Wachovia's bad loans to hold them back.
Forget the six month scenario. BBT has it's own dirty laundry with which to deal. They have financed many projects in the Va, DC area that are belly up. Plus, they just screwed their loyal retirees so that they can avoid price controls on their salaries by paying off the TARP. And if you need more they just sold 83 million new shares at $20 per share. You have to be kidding. Maybe in two or three years.
Thank you Lake. Very good. Keep the news coming. You mentioned the retirees. Don't forget about their loyal customers. At most of their branches around where I live they cannot keep tellers. Most of their tellers have left and gone to other banks. BB&T changed several years ago when they acquired the last bank or financial institution they bought. That is when they let their loyality go out the window for the customers and employees. I hope their stock goes down as low as Bank of America's did several weeks ago and they get bought out. Course that might make things worse. If BB&T would bring back their old ways and means they were doing business they will come back.
Poor arguments and lot's of assumptions, inuendos, prognostications but few solid facts. BBT will become the dominant bank throughout the Southeast. Unlike other banks, BBT is known for its honesty. It raised capital by selling stock just like State Street, Bank of New York, Wells Fargo, et. al. and instead of eliminating the dividend, it reduced it. BBT was profitable at a time when others posted huge losses. It passed the stress test. It avoided toxic assets. It knows its customers who complete comprehensive loan forms. Consequently, non-performing loans are low relative to its peers. BBT will be $40/share by the end of this year.
Please explain your rationale, given the curent dilution brought about by new capital, more debt, a reduced dividend, and huge question mark next to the CRE loans, what are the catalysts that will double the price of this stock in the next six monhts.
In your dreams JC. It has done been reported it is going to take years for the financial market to bounce back from this. This country is headed for a depression. I personally think we are a mini one now. The corrupt politicians can hollar recession all they want to. But our fine president is putting us into a Socialist market and country. And may I also add a depression. That is all I've got to say about that. And before all of you come back and critize me for my opinion just remember we are all entitled to our opinion.
Price spikes?? Are you kidding?? BBT is setting up for a MAJOR selloff today. Could easily be $1+ by the end of the day. Look at the daily trading chart. As negative as I have seen in 3 weeks! Short all you can now and you will be richly rewarded. BBT will NEVER see $24 again.
Jerri you don't know how many loans bb%t has bad. Because they haven't let that news out. And they aren't going to let it out. If you will notice out of all this BB&T has not been in the "limelight". They aren't letting their bad loans out to the general public. What they are doing is trying to find a way to screw the customers that has bad loans over. To mess up their credit so that they will have to stay with them and their collections dept will harass the piss out of them. I know what I'm talking about I have a credit card with them and they have done me that way already. I've been a customer of this bank for 25 years and they don't care about their long time customers anymore. All they care about is money. And they don't care how they get it. I personally hope they get bought out. The only people that they haven't screwed over yet are their employees and they are next. If the employees have stock in the bank or having a retirement with them then those employees are getting ready to get the shaft. That is all I have to say about that.
yeah, and then Cramer and all his GS hooligans and associated criminals will sell at $26 and then the thing swill dump back into the low $20s. Book a quick 20% gain.
As to Funnie's Post.....EXACTLY RIGHT. At best, at the vey best, this stock is only fairly valued right now. At worst, its overvalued by 25%. The only reason this stock did not sell off in the extreme is that a wide swath of dumb money (read retail investors, ie. Spoor and Inlet) held it as it fell off a cliff and then grabbed a branch on the way down. But alas, the branch may break, and even if it doesn't, its sort of hard to climb up the side of a cliff.
Face it longs, unless you bought at $17, this thing will be stuck in neutral for a long time and you will have to take solace in a diluted position, a newly weakened dividend, and an uncertain economic outlook...all bad for the PPS.
I remember a guy named Spoor said this would never ever ever happen, because of BB&T's great superior conservative, clean Mgmt. (Oh, I must be mistaken, it s all Obama's fault, that's right...)
the head fake has already happened - - down from $26/$27 a shor time ago. Its back where it belongs, and going lower. Now who said this would be $40+ by year end? I have another great investment for you, but shhhh, don't tell anyone, ok? Its called the I-N-T-E-R-N-E-T, I think there may be some money to be made!!!!
nobody asked which # so i ain't telling
If you have an idea what might happen, then spill the beans otherwise stop stating after the fact what a great prognosticator you are.
I asked once before what charts and/or what web pages you use, but you ignored me.
very funny, got a chuckle out of that
nobank, i see another round of fake earnings due to the secondary offerings hitting the bottom line in Q2, which could mean a significant rally, but after that, they won't be able to top those earnings nor will they have the consumer fixed up in time to spend lots of money to continue the giant band aid effect they pasted over the economy by throwing fake dollars at the problem thinking that is gonna fix our mess, but it won't, consumers will have no new money, and the gov't will print more money to throw at the problem, because after Q2 there will be a re-continuation of the sinking economy, thus the market will re-crash
timing of your statement is a little off, but overall fundamentally correct
I dont think another crash is in order of the magnitude we have seen. I think we'll go to DOW 7500. All the structural problems in the economy are still out there. As for the banks, and BB&T, they got their money, diluted the shareholders to pay it off, and are looking forward to a lost decade of current returns and capital appreciation. The long hangover has set in...and the holier than thou crowd in Winston is right there in the thick of it. Best thing for them to do right now is get their heads out of the sand and start lending money, lots of money, so the next time around, they are the ones crying wolf, getting the federales to cowtow, and wont be a day late and a dollar short, as they alwys are.
i see a con job of the FED and our gov't coupled up with the GS criminals that are playing with idiots like inlet who actually believe their theories hold water
nobank, the con job is far from over, they are trying to prop up the system, and the financials are allowed to pull stunts to hide the problem for now, but the smart money is stalking the short while riding the longs up for extra profits to reverse into at the right time -- i think you're overall correct, but let's call it what it is... -- temporarily, i see the S&P 500 LEVEL pullback # is going to take place, and it will reverse off that # and go up -- depending upon which # they turn it, it will either be a standard size rally or a huge WAVE 3 RALLY -- nobody asked which # so i ain't telling -- they are gonna fake the bank earnings and run up Q2 as far as they can and the bank stocks will enjoy the great fake rally, but let me assure you, i am going short at the top