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BB&T (BBT) Beats on Q1 Earnings, Costs & Provisions Rise

Zacks Equity Research

Have you been eager to see how BB&T Corporation BBT performed in Q1 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:

Earnings Beat

BB&T came out with adjusted earnings per share of $1.05, surpassing the Zacks Consensus Estimate of $1.03.

Rise in revenues supported results.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BB&T depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last seven days.

Notably, BB&T has an impressive earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in three and matched in one of the trailing four quarters.

BB&T Corporation Price and EPS Surprise

BB&T Corporation Price and EPS Surprise | BB&T Corporation Quote

Overall, on an average the company posted positive earnings surprise of 2.4% in the trailing four quarters.

Revenues

BB&T posted total revenues of $2.90 billion, lagging the Zacks Consensus Estimate of $2.91 billion.

Key Statistics to Note:

  • After considering merger-related and restructuring charges, net income was $749 million or 97 cents per share
  • Net interest margin was 3.51%
  • Adjusted Efficiency ratio of 56.6%
  • Average loans and leases were $148.79 billion
  • Average deposits were $160.05 billion
  • Common equity Tier 1 ratio was 10.3% as of Mar 31, 2019


What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BB&T. 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.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .)

Check back later for our full write up on this BB&T earnings report later!

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