BB&T's management has performed up to their own and the analysts expectations. The drop in stock price is more due:
1. To some extent year end tax loss selling
2. The rising rate environment: BB&T does have a lot of fixed rate loans due to acquisitions and the competitve banking environment
3. BB&T has had a much higher PE than its competitors...still does....but they are all dropping. Banks are cyclical!
4. The takeover speculation has slowed a little as bank stocks have gotten bashed. The takeover currency is worth less
5. Expectations of a slower growth economy. Also, the BB&T gains in income have come from expanding relationships with clients of banks they have bought, who in most cases did not have the array of BB&T products to sell. No significant acquisitions means no significant opportunities to expand relationships.