Shares of BB&T ( BBT) of Winston-Salem, N.C., closed at $30.04 Monday, trading for 1.8 times tangible book value and for 10.3 times the consensus 2013 EPS estimate of $2.92. The consensus 2014 EPS estimate is $3.14. The shares returned 19% last year, following a 2% decline during 2011. Based on a quarterly payout of 20 cents, the shares have a dividend yield of $2.66. BB&T will announce its third-quarter results on Jan. 17. The consensus among analysts is for the company to report a profit of 70 cents a share, increasing from 66 cents in the third quarter, and 55 cents during the fourth quarter of 2011. A narrowing net interest margin is a major concern for the bank and for investors. The margin held up well at 3.94% during the third quarter, narrowing just one basis point from the previous quarter, but the company provided guidance saying that the margin would narrow "to the mid-3.70s% range" in the fourth quarter. Deutsche Bank analyst Matt O'Connor rates BB&T a "Hold," with a $34 price target, and said on Dec. 11 after meeting with the company's CFO Daryl Bible that the fourth quarter "could be better than expected," from the "NIM coming in slightly better," and increasing gains on mortgage loan sales. O'Connor estimates that BB&T will report fourth-quarter earnings of 72 cents a share, and estimates the company will earn $2.90 a share in 2013. BBT data by YCharts
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