|Bid||52.26 x 1400|
|Ask||52.81 x 900|
|Day's Range||52.34 - 53.02|
|52 Week Range||40.68 - 53.90|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||13.04|
|Earnings Date||Jan 15, 2020 - Jan 20, 2020|
|Forward Dividend & Yield||1.80 (3.40%)|
|1y Target Est||55.26|
State Street's (STT) Q3 earnings reflect successful implementation of cost saving measures and rise in assets balance, while lower revenues pose a concern.
BB&T Corp. (NYSE: BBT) today reported better than-expected adjusted third-quarter earnings driven by stronger revenues and lower credit costs. BB&T reported a third-quarter profit of $735 million, or 95 cents a share, down 6 percent compared to last year's profit of $789 million, or $1.01 a share. "We continue to make significant progress laying the groundwork for our exciting merger of equals with SunTrust," BB&T CEO Kelly King said in a statement. "We are very pleased the shareholders of both companies strongly supported the merger at their respective meetings earlier this quarter.
Earnings per diluted common share were $0.95 for the third quarter of 2019, a decrease of 5.9 percent compared with the same period last year. Results for the third quarter produced an annualized return on average assets (ROA) of 1.41 percent, an annualized return on average common shareholders' equity (ROCE) of 10.04 percent, and an annualized return on tangible common shareholders' equity (ROTCE) of 16.03 percent. Adjusted net income available to common shareholders was $832 million , or $1.07 per diluted share, excluding merger-related and restructuring charges of $34 million ( $26 million after-tax), incremental operating expenses related to the merger of $52 million ( $40 million after-tax) and an after-tax charge of $46 million related to the redemption of preferred stock, partially offset by the after-tax impact from the sale of residential mortgage loans of $15 million .
Adjusted net income was $832 million vs. $802 million a year ago. Adjusted earnings exclude merger-related and restructuring charges of $34 million related to its combination with SunTrust announced earlier this year. Net income was $735 million, down 6.8% versus last year.
Earnings will continue as the focal point for investors Thursday, as Morgan Stanley and Union Pacific gear up to report.
Decline in interest rates along with soft loan growth are likely to have negatively impacted BB&T's (BBT) interest income in the third quarter of 2019.
The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.
Decent consumer loan growth and rise in mortgage refinancing are expected to support JPMorgan's (JPM) Q3 results amid lower interest rates.
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WINSTON-SALEM, N.C. , Sept. 24, 2019 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) announced today that it will report third-quarter 2019 financial results on Thursday, Oct. 17, 2019 . Chairman and Chief ...
WINSTON-SALEM, N.C. , Sept. 18, 2019 /PRNewswire/ -- BB&T Corporation (NYSE: BBT) today announced it is decreasing its prime lending rate to 5.00 percent from 5.25 percent effective immediately. About ...