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  • Virginia_Tech_MBA Virginia_Tech_MBA Jul 24, 1999 8:57 PM Flag

    BB&T

    They own them.

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    • I am also a Virginia Tech business graduate. I am
      coming over to BB&T via the Matewan Mational Bank
      purchase. Interested in getting various viewpoints on BB&T.
      I am not sure whether to hold the stock or sell
      off. What is the feeling here?

      • 3 Replies to cdcpa
      • From a 30+ year s/h, if you're in for longer than
        a year, consider:
        . from y/e 1994 thru y/e 1998
        stock price quadrupled.

        . five yr. total return
        is 34%; S&P is 26% same period

        . five yr.
        dividend growth 15%; S&P 5%

        Regarding aquisition
        strategy, the '98 annual report is pretty
        candid;"interested in aquiring community banks and thrifts in $250
        mil to $10 bil range with primary efforts
        concentrated in Carolinas, Virginia, and Maryland.
        Secondarily, looking for opportunities in contiguous states of
        West Virginia, Kentucky and Georgia" The key is
        willingness to sell, BB&T isn't an unfriendly aquirer.
        Non-bank targets are insurance agencies (BB&T now 16th
        largest agency in U.S.) and financial services cos. that
        can be logically integrated.

        This strategy has
        been in place for years, and they've done a great job
        of executing on it and have a P/E above the group
        average. This fact and the fear of inflation referred to
        by an earlier post have held bank prices down or
        flat in recent months.I believe BB&T will make up for
        lost time and hit 40 - 45 within 18 months. If the
        long bond goes to 6.5%, it'll take longer.
        IMHO......................................Fan

      • If you are in for the long haul you will be well
        served by holding the stock. I suspect they will make
        numerous acquisitions after 1/1/2000 and before 12/31/00
        due to the elimination of use of the pooling method
        (announced by FASB on 4/21/99) and that might cause some
        near-term modest share price growth, but they are building
        a valuable franchise and they are highly praised
        for their performance as Bankers.

        But what
        about their plans for WVA? Having bought Matewan, which
        conveniently appears to not overlap with OVB and UBSI, are
        they just waiting for Y2K to pass before they strike a
        deal with one of these banks and take a leading
        position in the state?

      • My opinion is that BBT is a first class, well respected bank...
        ...whose share price is almost exactly where it was one year ago.

 
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