What's Happening with BBT
Regional bank BB&T (BBT) reports second-quarter numbers before the market open on July 19. The consensus calls for earnings of $1.01 per share, up from $0.77 during the same period last year. BBT is up 2.4% on the year.
Technical Analysis
BBT was recently trading at $51.10, down $5.21 from its 12-month high and $8.07 above its 12-month low. Overall technical indicators for BBT are neutral with a weak downward trend. The stock has recent support above $50.00, and recent resistance below $52.50. Of the 18 analysts who cover the stock, nine rate it a "strong buy", one rates it a "buy", and eight rate it a "hold". BBT gets a score of 70 from InvestorsObserver's Stock Score Report.
Analysts' Thoughts
The earnings season kicked off with mixed numbers in the financials, with Wells Fargo (WFC) and Citigroup (C) disappointing and JP Morgan (JPM) beating. The entire sector moved lower on the mixed numbers, pulling BBT shares down with it. The good news is that the negative downside has already been priced into the stock, so if BB&T is able to post solid numbers there is a lot of upside, and the downside is already minimized with shares moving lower on the initial reports in the sector. Revenue growth has been tepid for the industry, and earnings growth has been fueled primarily by lower corporate taxes. The initial reports in the sector definitely raise concerns for BBT ahead of its quarterly report, so investors should have a clear exit strategy in place just in case the results push the stock lower. Analysts have a $57.75 price target on the stock.