NEW YORK ( TheStreet) -- The last time we discussed the prospects of BB&T (BBT - Get Report), I raised concerns about (among other things) the bank's weakness in pre-provision net revenue (PPNR), which is equivalent to "operating income" in other sectors.Although management has a solid reputation and had been working hard to streamline the business, the April quarter revealed a 8% year-over-year decline in PPNR, which was magnified due to weaker-than-expected cost-cutting measures. What's more, for BB&T the April quarter also revealed signs of struggle in residential and commercial lending.
Hold BB&T Ahead of Earnings
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.