TheStreet

Shares of BB&T Corp. (BBT - Get Report) and KeyCorp. (KEY - Get Report) both dropped at the opening bell Thursday, after both banks reported fourth-quarter earnings below analysts' forecasts.

BB&T shares rose 1.6% to $48.28 at the close of trading on Thursday, recovering after slipping a little more than 1% on the New York Stock Exchange after it reported fourth-quarter net income of $754 million, or 97 cents a diluted share, up from $614 million, or 77 cents a share, in the year-earlier quarter.

Analysts polled by FactSet had been expecting earnings of $1.04 a share.

For the full year, net income available to common shareholders was $3.1 billion, or $3.91 a diluted share, up from $2.2 billion, or $2.74 a diluted share, in 2017. Excluding merger-related and restructuring charges and selected items, adjusted diluted earnings per share were $4.05 for 2018, up 29% compared to $3.14 for 2017.

Cleveland-based KeyCorp., meanwhile, declined a little more than 3.46% to $16.17 in mid-day NYSE trading Thursday after it announced fourth-quarter net income from continuing operations of $459 million, or 45 cents a share, vs. $181 million, or 17 cents, in the comparable year-earlier period. Analysts surveyed by FactSet had expected earnings of 47 cents a share.

For the full year, net income was $1.8 billion, or $1.70 a share vs. $1.2 billion, or $1.12 a share in the same period a year ago. The shares fell 2.5% to $16.33 at the close of trading on the New York Stock Exchange.