BB&T (BBT) Stock Higher After Q2 Results Top Estimates
NEW YORK (TheStreet) -- Shares of BB&T (BBT) - Get Report are gaining 0.52% to $36.63 on Thursday morning after the financial holding company reported earnings and revenue that beat analysts' expectations.
Before today's market open, the Winston Salem, NC-based firm posted adjusted earnings of 71 cents per diluted share, surpassing analysts' projections of 65 cents per share.
Revenue for the quarter was $2.75 billion, above Wall Street's estimates of $2.73 billion.
"Our strategic acquisitions and strong organic growth have allowed us to expand our footprint and achieve record results," CEO Kelly King said in a statement.
In April, the regional bank completed its $1.8 billion purchase of National Penn Bancshares and its $500 million acquisition of Swett & Crawford.
Both of the deals contributed to the company's "strong" second quarter results, according to King.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations and expanding profit margins.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BBT