LONDON, July 28, 2014 /PRNewswire/ --
Investor-Edge.com has issued free post-earnings report and analysis on BB&T Corporation (NYSE: BBT) as the company featured in the headlines on Monday, July 21, 2014, for reporting $187 million year-over-year decline in total revenue and $122 million year-over-year fall in net income available to common shareholders in the second quarter of 2014, underperforming market expectations. Our free coverage report can be accessed at:
http://www.investor-edge.com/register
Earnings Overview
For the second quarter of 2014, BB&T Corporation's total revenue grew 3% annualized compared with the last quarter, while the average total loans and leases held for investment improved 7.2% on an annualized basis compared to the first quarter of 2014. During this period, the company's results were hurt by mortgage and tax-related adjustments with an after-tax impact of $88 million, or $0.12 per diluted share. The free research on BBT can be downloaded as in PDF format at:
http://www.Investor-Edge.com/BBTFreeReport
Kelly S. King, Chairman and Chief Executive Officer of BB&T Corporation stated that the bank was able to report strong core results, despite the adverse impact of the mortgage and tax-related charges during the period. He added that the Company had acquired of 21 retail branches in Texas during the second quarter, which makes it one of the top 20 banks in the state.
During the quarter, the Winston-Salem-based bank also reported net income available to common shareholders of $425 million or 0.58 a share, compared to $547 million or $0.77 a share in the second quarter of 2013, underperforming Bloomberg consensus estimate of $538.93 million, or $0.74 a share. Total revenue of $2.31 billion was below the $2.50 billion reported in the comparable prior year's quarter but in-line with market expectations. During the quarter, nonperforming assets (NPAs), excluding covered assets, decreased by $70 million, or 7.1% Q-o-Q to $916 million. Due to lower rates on new loans and securities, and covered loan runoff, the net interest margin fell by 9 basis points Q-o-Q and 27 basis point Y-o-Y to 3.43%. As per Basel III requirement, the bank's common equity tier 1 ratio stood at 10.0%. On Tuesday, July 22, 2014, the board of directors of BB&T Corporation declared a quarterly dividend of $0.24 per common share, payable on September 2, 2014 to shareholders of record as on August 8, 2014. Sign up and read the free analyst's notes on BBT at:
http://www.Investor-Edge.com/BBT-28072014
Stock Performance
On Monday July 21, 2014, after the earnings release, BB&T Corporation's shares slumped 4.04% to close the session at $37.33. At the last close, on Friday, July 25, 2014, BB&T Corporation's shares rose marginally, finishing the day 0.24% higher at $37.91. The company's shares oscillated between $37.61 and $37.94 during the trading session. A total of 2.92 million shares were traded, lower than its three months average volume of 3.34 million shares. BB&T Corporation's shares have advanced 1.12% in the previous three trading sessions, 1.55% in the last three months, and 1.58% on YTD basis. The company is trading above its 200-day moving average of $37.32, while the 200-day moving average is below BB&T Corporation's 50-day moving average of $38.58. The stock traded at a PE ratio of 12.45 and has a Relative Strength Index (RSI) of 41.15. Visit Investor-Edge and access the latest research on BBT at:
http://www.Investor-Edge.com/BBTEarningsCoverage
Sneak Peek to Corporate Insider Trading
In the last one month, BB&T Corporation has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on BBT is available at:
http://www.Investor-Edge.com/BBTInsiderTrading
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