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MarketScreener Homepage  >  Equities  >  Nyse  >  BB&T Corporation    BBT

BB&T CORPORATION

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BB&T : Reports Rise in Profit, While SunTrust Posts Decline

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04/18/2019 | 06:56am EDT

By Allison Prang

Profit rose slightly at BB&T Corp. but fell at SunTrust Banks Inc. in the first quarter, as both regional banking firms recorded merger-related expenses for the quarter ahead of combining their operations.

BB&T's earnings per share were 97 cents, up from 94 cents a share. Analysts polled by Refinitiv were expecting earnings of $1.03 a share.

The company said it had $80 million in merger and restructuring-related charges in the first quarter. BB&T reported adjusted earnings, which excludes those charges, of $1.05 a share. Analysts were still expecting $1.03 a share.

SunTrust reported earnings of $1.24 a share, down from $1.29 a share. Analysts were expecting $1.30 a share. SunTrust said it had $45 million in merger-related costs, or 9 cents a share.

BB&T and SunTrust announced in February that they would merge in a stock deal that has been valued at $28.2 billion. Together, they would become the sixth-largest retail bank in the country. A large reason for the deal is to be able to scale more with technology.

BB&T is based in Winston-Salem, N.C., while SunTrust is based in Atlanta. The combined company would be based in Charlotte, N.C.

Total taxable-equivalent revenue at BB&T rose 3% to $2.92 billion, slightly less than analysts anticipated.

At SunTrust, fully taxable equivalent revenue rose 4.2% to $2.35 billion, which beat estimates from analysts.

Write to Allison Prang at allison.prang@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BB&T CORPORATION -0.70% 52.42 Delayed Quote.21.01%
SUNTRUST BANKS -0.93% 67.48 Delayed Quote.33.78%
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Financials (USD)
Sales 2019 12 391 M
EBIT 2019 5 208 M
Net income 2019 3 023 M
Debt 2019 -
Yield 2019 3,25%
P/E ratio 2019 13,2x
P/E ratio 2020 12,9x
Capi. / Sales2019 3,24x
Capi. / Sales2020 1,86x
Capitalization 40 162 M
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Technical analysis trends BB&T CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 54,74  $
Last Close Price 52,42  $
Spread / Highest target 14,5%
Spread / Average Target 4,42%
Spread / Lowest Target -2,71%
EPS Revisions
Managers
NameTitle
Kelly S. King Chairman, President & Chief Executive Officer
Christopher L. Henson President & Chief Operating Officer
Daryl N. Bible Chief Financial Officer & Senior Executive VP
Barbara F. Duck Chief Information Officer & Senior Vice President
Anna R. Cablik Independent Director
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