norm: You are correct. The number is 27 cents (not 44 cents). Same question however. Will we make that number without using reserve funds? Also I believe that Kelly King said that he wants to keep the dividend at 40 to 60 % of profits (not 30 %). King also said that he might be interested in another acquisition like Colonial. To your point there should be no buyouts at current share price where shares have to be used for the purchase. Look forward to Kelly King's comments when he reports earnings in January. Happy New Year and good investing to everyone.
"Believe we will make the 44 cents that the street is looking for. Question is will we have to use reserved funds to get there??"
No idea where you're getting you #s. Street average is $.27 qtr. I'll be a monkey's uncle if bbt reports $.44. That's not how the game works. 2010 was a bad year. King wants to set the stage for a great year in 2011. If that sounds like managed earnings, it is but that the commonly accepted practice.
Also you had expectations of a dividend increase. Their payout policy is about 30% so for the dividend to be increased quarterly eps would have to be north of $.50. Imo, it will happen in 2011 in the second half of the year.
A big priority of King is to get share price way up. He can't do any acquisitions with bbt share price stuck at $26. Only way to increase it is to show the world the bad land loans are finito.