Specifically, analysts estimate that the company's net asset value could be down by 14 cents to 58 cents per share.
Apollo Investment's (AINV -3.4%) three-month slide now totals more than 14% after Barclays downgrades to Equalweight from Overweight. The price target is cut to $7 from $9. The stock's lower by 22% Y/Y.
"We believe a combination of wider spreads on energy investments along with idiosyncratic issues for several specific credits could drive Q2 net asset value lower," says the team.
The stock has increased about $3 since the 1st quarter financials so some increase was already baked in. Once the Fed starts to raise the Fed Funds & Discount rate the interest rate margin will start to widen and profits will rise as loans tied to the prime rate will reset immediately but the deposit rates take a while to respond as CD's mature. Plus banks usually do not raise the deposit rates commensurate with loan rates. I thought the report was good.
Closed at $7.18 today. Price has been weak since at least x date. I'm guessing its a play against rising interest rates but seems overdone. Thinking about picking up some more.
10 yr Treasury's yield up strong today. Has negative impact on all the BDC's. Not sure what is moving the bond market today. Buying opportunity?
Divvy increase to .27/sh/qtr announced today w/ up to $820 million in stock repurchase beginning in 3rd qtr. Thanks Mr. King & Board & to the employees that do all the heavy lifting & make this boat float.
If you think interest rates will eventually start rising you should hold or even buy as margins will increase. This may take awhile so if you are not the patient kind I would recommend to sell.
Not the best of quarters. I remember when BB&T consistently beat projections. Still think better days are ahead - especially if the Fed moves on rates. Have a feeling it may be later this year or early next due to the strong dollar that will only get stronger if rates rise. Stay tuned.
Stress test pass so dividend will increase 12.5% to .27/share/qtr. Stock buyback too. Now if the Fed will just increase the Fed Funds rate maybe the margin will have a nice increase. Looking good today.
Knee jerk reaction to the recession but some parts were needed while a lot were not well thought out. It seems like there was an effort to punish the banks rather than help the economy. The CFPB which Dodd Frank created needs to be reigned in.
BB&T Corp. (NYSE: BBT) was started as Outperform with a $44 price target (versus a $37.09 close) at Credit Suisse.
Would guess this opinion is based on the Fed starting to raise rates around June which would help the interest rate margin.
S&P CAPITAL IQ KEEPS BUY RECOMMENDATION ON SHARES OF BB&T CORP.
(S&P Capital IQ) Print
We lower our 12-month target by $1 to $40, 13.5X our '15 EPS estimate of $2.96, at the high-end of BBT's recent historical multiples. BBT reports Q4 EPS of $0.76 vs. $0.75, beating the Capital IQ consensus view of $0.73, on strong insurance brokerage revenues (up 10% from year-ago), investment banking (up 11%), and mortgage banking (up 28%). We see fee income growth staying strong. Net interest margin was stable, down only 0.02% from Q3. On our slightly lower loan growth outlook, we trim our '15 EPS estimate to $2.96 from $3.00, and our '16 estimate to $3.13 from $3.21.
On the surface, a .03 earnings beat looks pretty good on good expense control. Haven't seen the details but looks very positive today. Will be interesting to see what the analysts have to say.