Time to Sell BB&T Corporation After Today’s Option Traders Bearish Bets?

 Time to Sell BB&T Corporation After Today's Option Traders Bearish Bets?

In today’s session BB&T Corporation (BBT) recorded an unusually high (1,656) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious BBT decrease. With 1,656 contracts traded and 2124 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: BBT161216P00043000 closed last at: $0.38 or 33.3% down. About 1.24 million shares traded hands. BB&T Corporation (NYSE:BBT) has risen 26.64% since April 21, 2016 and is uptrending. It has outperformed by 21.31% the S&P500.

Analysts await BB&T Corporation (NYSE:BBT) to report earnings on January, 19. They expect $0.73 earnings per share, up 7.35% or $0.05 from last year’s $0.68 per share. BBT’s profit will be $590.68 million for 15.27 P/E if the $0.73 EPS becomes a reality. After $0.76 actual earnings per share reported by BB&T Corporation for the previous quarter, Wall Street now forecasts -3.95% negative EPS growth.

BB&T Corporation (NYSE:BBT) Ratings Coverage

Out of 21 analysts covering BB&T Corp (NYSE:BBT), 8 rate it a “Buy”, 3 “Sell”, while 10 “Hold”. This means 38% are positive. BB&T Corp has been the topic of 36 analyst reports since July 17, 2015 according to StockzIntelligence Inc. The stock has “Market Perform” rating given by BMO Capital Markets on Tuesday, November 15. The firm has “Outperform” rating by Raymond James given on Thursday, April 7. The firm earned “Buy” rating on Monday, January 25 by Hilliard Lyons. Deutsche Bank maintained BB&T Corporation (NYSE:BBT) on Wednesday, August 12 with “Hold” rating. The stock of BB&T Corporation (NYSE:BBT) has “Market Perform” rating given on Wednesday, October 19 by Wood. The stock has “Strong Buy” rating given by Raymond James on Monday, December 7. The firm earned “Underweight” rating on Monday, November 14 by Morgan Stanley. FIG Partners upgraded BB&T Corporation (NYSE:BBT) on Tuesday, May 10 to “Outperform” rating. The stock of BB&T Corporation (NYSE:BBT) has “Hold” rating given on Tuesday, April 5 by Deutsche Bank. The rating was upgraded by SunTrust to “Outperform” on Monday, May 16.

According to Zacks Investment Research, “BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. BB&T conducts its operations in North Carolina, South Carolina, Virginia, Maryland, Georgia, West Virginia, Kentucky and the metropolitan Washington, D.C. area.”

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 0.04, from 1.39 in 2016Q1. The ratio worsened, as 61 funds sold all BB&T Corporation shares owned while 199 reduced positions. 60 funds bought stakes while 301 increased positions. They now own 504.84 million shares or 2.16% more from 494.14 million shares in 2016Q1.
Jacobus Wealth Management holds 0.12% of its portfolio in BB&T Corporation (NYSE:BBT) for 10,701 shares. Minerva Advsrs Ltd Liability Corporation owns 18,494 shares or 0.45% of their US portfolio. Arrowgrass Capital (Us) Limited Partnership last reported 14,059 shares in the company. Union Bancshares Corp has invested 0.9% of its portfolio in BB&T Corporation (NYSE:BBT). Strategic Financial Serv holds 134,025 shares or 0.99% of its portfolio. Banque Pictet Cie owns 8,201 shares or 0.01% of their US portfolio. Pineno Levin & Ford Asset owns 100,247 shares or 1.85% of their US portfolio. British Columbia Investment Mgmt, a British Columbia – Canada-based fund reported 509,100 shares. Oakwood Capital Mngmt Lc Ca holds 1.35% of its portfolio in BB&T Corporation (NYSE:BBT) for 144,660 shares. Cordasco Ntwk accumulated 813 shares or 0.03% of the stock. Livforsakringsbolaget Skandia Omsesidigt has invested 0.13% of its portfolio in BB&T Corporation (NYSE:BBT). Lba Wealth Mgmt Ltd last reported 2,450 shares in the company. Davidson Garrard Incorporated has invested 0.81% of its portfolio in BB&T Corporation (NYSE:BBT). Nomura Asset Mgmt Limited reported 101,390 shares or 0.07% of all its holdings. Smith Salley & Associates holds 0.4% of its portfolio in BB&T Corporation (NYSE:BBT) for 48,802 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 14 sales for $18.56 million net activity. Weaver David Hudson also sold $412,175 worth of BB&T Corporation (NYSE:BBT) shares. Yates William Rufus had sold 8,500 shares worth $302,190 on Tuesday, May 24. BANNER JENNIFER S sold $56,021 worth of BB&T Corporation (NYSE:BBT) on Friday, May 27. QUBEIN NIDO R had sold 20,000 shares worth $787,398. Powell Cynthia B sold $380,388 worth of stock or 9,012 shares. Another trade for 162,415 shares valued at $6.21M was made by KING KELLY S on Tuesday, August 30. Shares for $2.79M were sold by Brown Ricky.

BB&T Corporation is a financial holding company. The company has a market cap of $36.08 billion. The Firm conducts its business primarily through its bank subsidiary, Branch Banking and Trust Company, and other nonbank subsidiaries. It has a 16.6 P/E ratio.

BBT Company Profile

BB&T Corporation (BB&T), incorporated on September 24, 1968, is a financial holding company. The Firm conducts its business primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. The Company’s divisions include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, Financial Services, and Other, Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and individuals through over 2,140 offices.

More recent BB&T Corporation (NYSE:BBT) news were published by: Prnewswire.com which released: “BB&T Corporation COO to speak at Bank of America Merrill Lynch 2016 Future of …” on October 25, 2016. Also Prnewswire.com published the news titled: “BB&T Corporation CFO to speak at BancAnalysts Association of Boston Inc …” on October 25, 2016. Nasdaq.com‘s news article titled: “BB&T Corporation (BBT) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016 was also an interesting one.

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