Have you been eager to see how BB&T Corporation performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this North Carolina-based diversified financial holding company’s earnings release this morning:
An Earnings Beat
BB&T came out with adjusted earnings per share of 71 cents, which surpassed the Zacks Consensus Estimate of 65 cents.
A rise in top line aided the earnings beat.
How Was the Estimate Revision Trend?
You should note that the Zacks Consensus Estimate for Q2 has remained stable over the last 7 days, though it has been revised down over the past 30 days period.
Notably, BB&T has a mixed earnings surprise history. Before posting the earnings beat in Q2, the company delivered negative surprises in two of the prior four quarters. Overall, on an average the company posted positive earnings surprise of 1.20% in the trailing for quarters.
Revenue Came In Higher Than Expected
BB&T posted total revenues of $2.79 billion, which surpassed the Zacks Consensus Estimate of $2.74 billion. Moreover, it came around 18% higher than the year-ago number.
Key Statistics to Note:
Efficiency ratio of 59.3%
Average loans and leases held for investment were $141.1 billion as of Jun 30, 2016
Average deposits were $160.3 billion as of Jun 30, 2016
Dividend payout ratio of 41.8% as of Jun 30, 2016
Common equity Tier 1 ratio under Basel III, on a fully-phased in basis, was 9.8% as of Jun 30, 2016
What Zacks Rank Says
BB&T currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BB&T earnings report!
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Have you been eager to see how BB&T Corporation performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this North Carolina-based diversified financial holding company’s earnings release this morning:
An Earnings Beat
BB&T came out with adjusted earnings per share of 71 cents, which surpassed the Zacks Consensus Estimate of 65 cents.
A rise in top line aided the earnings beat.
How Was the Estimate Revision Trend?
You should note that the Zacks Consensus Estimate for Q2 has remained stable over the last 7 days, though it has been revised down over the past 30 days period.
Notably, BB&T has a mixed earnings surprise history. Before posting the earnings beat in Q2, the company delivered negative surprises in two of the prior four quarters. Overall, on an average the company posted positive earnings surprise of 1.20% in the trailing for quarters.
Revenue Came In Higher Than Expected
BB&T posted total revenues of $2.79 billion, which surpassed the Zacks Consensus Estimate of $2.74 billion. Moreover, it came around 18% higher than the year-ago number.
Key Statistics to Note:
Efficiency ratio of 59.3%
Average loans and leases held for investment were $141.1 billion as of Jun 30, 2016
Average deposits were $160.3 billion as of Jun 30, 2016
Dividend payout ratio of 41.8% as of Jun 30, 2016
Common equity Tier 1 ratio under Basel III, on a fully-phased in basis, was 9.8% as of Jun 30, 2016
What Zacks Rank Says
BB&T currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BB&T earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>