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BB&T Corporation
Type
Public company
Traded as NYSE: BBT
S&P 500 Index component
Industry Financial services
Founded 1872; 145 years ago (1872)
Founder Alpheus Branch
Thomas Jefferson Hadley
Headquarters Winston-Salem, North Carolina
Number of locations
2,100 branches
Area served
North Carolina, South Carolina, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana, Texas, New Jersey, Ohio, Pennsylvania, Washington, D.C.
Key people
Kelly King, Chairman & CEO
Christopher L. Henson, President
Daryl N. Bible, CFO
Products Commercial and Consumer banking
Investment banking
Insurance
Mortgage
Revenue Increase US$10.793 billion (2016)
Net income
Increase US$2.442 billion (2016)
Total assets Increase US$219.276 billion (2016)
Total equity Increase US$29.355 billion (2016)
Number of employees
37,500 (2016)
Website www.bbt.com

BB&T Corporation (Branch Banking and Trust Company) is a financial service holding company based in Winston-Salem, North Carolina. Its bank operates over 2,100 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. It is on the list of largest banks in the United States. Its subsidiary BB&T Insurance Services is one of the largest insurance brokers in the world.

In 1872, Alpheus Branch and Thomas Jefferson Hadley founded the Branch and Hadley merchant bank in their hometown of Wilson, North Carolina. After many transactions, mostly with local barbers, Branch bought out Hadley's shares in 1887 and renamed the company to Branch and Company, Bankers. Two years later, Branch, his father-in-law Gen. Joshua Barnes, Hadley and three other men, secured a charter from the North Carolina General Assembly to operate the Wilson Banking and Trust Company. After several additional name changes, the company finally settled on the name Branch Banking and Trust Company. Branch remained an active member in the company until his death in 1893. The 1903 Branch Banking and Trust Company Building at Wilson was listed on the National Register of Historic Places in 1978.

BB&T sold Liberty Bonds during World War I and grew to have more than $4 million in assets by 1923. BB&T Insurance Services was added in 1922 and a mortgage division was added in 1923. Even though banks across the United States failed as a result of the 1929 Stock Market Crash, BB&T survived; it was the only one to do so in the town of Wilson.

In 1995, the bank merged with Southern National Bank, another bank with roots in the eastern part of the state. This gave BB&T 437 branches in 220 cities in the Carolinas and Virginia. The bank continued to expand nationwide through the 1990s, purchasing Fidelity Financial Bankshares, First Financial of Petersburg, Maryland, Maryland Federal Bancorp, and Franklin Bancorporation. In 1998, BB&T acquired MainStreet Financial of Martinsville, Virginia, and Mason-Dixon Bancshares of Westminster, Maryland, and further expanded into Georgia and West Virginia after purchasing First Liberty of Macon, Georgia, and Matewan Bancshares.

In 2005, the bank acquired Main Street Banks of metro Atlanta for $622 million.

In 2006, the bank acquired Coastal Federal Bank, based in Myrtle Beach, South Carolina.

In February 2008, the company acquired Burkey Risk Services.

In April 2008, the company acquired UnionBanc Insurance Services.

In late 2008, the bank accepted $3.1 billion in bailout money through the sale of preferred shares to the U.S. Treasury's Troubled Asset Relief Program. In June 2009, the bank repurchased the shares. Also in June 2009, its chairman, John A. Allison IV delivered a keynote address to a meeting of the Competitive Enterprise Institute, where he claimed to show how government regulation caused the financial crisis of 2007–2008.

In July 2008, the company acquired Puckett, Scheetz & Hogan.

On August 14, 2009, the bank acquired Colonial Bank after its seizure by the FDIC. This acquisition added more than 340 branches in Alabama, Florida, Georgia, Nevada and Texas along with approximately $22 billion in assets. BB&T sold the Nevada branch to U.S. Bancorp in January 2010.

In December 2008, the company acquired J. Rolfe Davis.

In November 2009, the company acquired Oswald Trippe.

In September 2011, the company acquired Liberty Benefit Insurance Services, an agency operating in California. The company also acquired Atlantic Risk Management.

In November 2011, the company acquired Precept, an employee benefits consulting firm.

In February 2012, the company acquired the life insurance and property and casualty insurance divisions of Crump Group.

In July 2012, the bank acquired BankAtlantic, and its $2.1 billion in loans and $3.3 billion in deposits. The company also began selling flood insurance online.

In December 2013, the bank acquired 21 Citigroup branches in Texas for $36 million, adding $1.2 billion in deposits.

In March 2014, the company acquired Woodbury & Co., an insurance broker operating in the Carolinas.

In April 2014, the company acquired Caledonian Insurance Group, which specialized in insurance brokerage services for the aviation industry.

In September 2014, the bank acquired 41 more Citigroup branches, which added 123 branches and $5.3 billion in deposits.

In April 2015, BB&T subsidiary CRC Insurance Services acquired the assets of Napco LLC, a broker of catastrophic commercial insurance.

In June 2015, the bank acquired Bank of Kentucky for $363 million, which added $1.9 billion in assets and gave BB&T a presence in the Northern Kentucky-Cincinnati market, and its first branches in Ohio. The also company sold American Coastal Insurance and increased its ownership in AMRisc.

In August 2015, the bank acquired Susquehanna Bank for $2.5 billion, adding 240 branches and $18.7 billion in assets, and marking the bank's entry into Pennsylvania and New Jersey.

In April 2016, the company acquired Swett & Crawford, a wholesale insurance broker.

In April 2016, the bank acquired National Penn for $1.8 billion, which added 124 branches in Pennsylvania, New Jersey, and Maryland, $9.6 billion in assets, and $6.7 billion in deposits.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2020 2020-04-16 Future report Set alerts
Q4 2019 2020-01-15 Future report Set alerts
Q3 2019 2019-10-17 0.95 0.95
Q2 2019 2019-07-18 1.09 1.09
Q1 2019 2019-04-18 0.97 0.97
Q4 2018 2019-01-17 0.97 0.97
Q3 2018 2018-10-18 1.01 1.01
Q2 2018 2018-07-19 0.99 0.99
Q1 2018 2018-04-19 0.94 0.94
Q4 2017 2018-01-18 0.83 0.77

Ratings

2016-07-11 Downgrade Robert W. Baird Outperform to Neutral $40.00 to $37.00
2016-07-10 Reiterated Rating Barclays PLC Equal Weight $40.00
2016-07-09 Reiterated Rating Wells Fargo & Co. Buy
2016-07-06 Reiterated Rating BMO Capital Markets Outperform $40.00
2016-06-29 Downgrade Sandler O'Neill Buy to Hold $37.00
2016-06-26 Reiterated Rating Deutsche Bank Buy
2016-06-26 Reiterated Rating Deutsche Bank AG Buy
2016-06-15 Reiterated Rating Deutsche Bank Buy $39.00
2016-06-07 Upgrade Rafferty Capital Markets Hold to Buy $45.00
2016-06-04 Reiterated Rating Deutsche Bank Buy $39.00
2016-05-16 Upgrade SunTrust Neutral to Buy $36.00 to $40.00
2016-05-16 Upgrade SunTrust Banks Inc. Neutral to Buy $36.00 to $40.00
2016-05-10 Upgrade FIG Partners Market Perform to Outperform $39.25
2016-05-09 Downgrade Raymond James Outperform to Market Perform
2016-05-09 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2016-05-03 Reiterated Rating Credit Suisse Buy
2016-05-03 Reiterated Rating Credit Suisse Group AG Buy
2016-04-25 Downgrade FIG Partners Outperform to Market Perform
2016-04-23 Reiterated Rating FBR & Co. Buy
2016-04-23 Reiterated Rating FBR & Co Buy
2016-04-22 Upgrade Deutsche Bank Hold to Buy $39.00
2016-04-17 Reiterated Rating Credit Suisse Buy
2016-04-07 Downgrade Raymond James Strong-Buy to Outperform
2016-04-06 Lower Price Target Barclays Equal Weight $41.00 to $40.00
2016-04-06 Lower Price Target Barclays PLC Equal Weight $41.00 to $40.00
2016-04-05 Initiated Coverage Deutsche Bank Hold $39.00
2016-03-28 Downgrade Piper Jaffray Neutral to Underweight $35.00
2016-03-28 Downgrade Piper Jaffray Cos. Neutral to Underweight $35.00
2016-03-17 Lower Price Target Compass Point Neutral $41.00 to $39.00
2016-03-11 Reiterated Rating Keefe, Bruyette & Woods Hold
2016-03-10 Lower Price Target Credit Suisse Outperform $44.00 to $42.00
2016-02-26 Lower Price Target Sanford C. Bernstein $39.00 to $37.00
2016-02-25 Reiterated Rating FBR & Co. Buy $45.00
2016-01-25 Upgrade Hilliard Lyons Neutral to Buy
2016-01-24 Reiterated Rating FBR & Co. Outperform $45.00
2016-01-22 Lower Price Target Barclays Equal Weight $43.00 to $41.00
2016-01-22 Reiterated Rating Evercore ISI Buy $41.00 to $38.00
2016-01-21 Lower Price Target Argus Buy $46.00 to $38.00
2015-12-07 Upgrade Raymond James Outperform to Strong-Buy $42.00 to $45.00
2015-11-23 Initiated Coverage Piper Jaffray Neutral $37.00
2015-10-16 Lower Price Target Barclays Equal Weight $45.00 to $43.00
2015-10-16 Downgrade Hilliard Lyons Long to Neutral
2015-10-06 Lower Price Target Jefferies Group Hold $41.00 to $38.00
2015-09-23 Lower Price Target Credit Suisse Outperform $48.00 to $46.00
2015-09-15 Lower Price Target Jefferies Group Hold $42.00 to $41.00
2015-09-02 Upgrade Robert W. Baird Neutral to Outperform $40.00
2015-08-27 Lower Price Target SunTrust Neutral $45.00 to $40.00
2015-08-26 Upgrade BMO Capital Markets Market Perform to Outperform $44.00 to $44.00
2015-08-25 Upgrade Hilliard Lyons Neutral to Buy
2015-08-19 Boost Price Target Raymond James Outperform $44.00 to $45.00
2015-08-19 Reiterated Rating Oppenheimer Hold
2015-08-19 Reiterated Rating Oppenheimer Holdings Inc. Hold
2015-08-18 Reiterated Rating Evercore ISI Buy $44.00
2015-08-12 Reiterated Rating Deutsche Bank Hold $44.00
2015-08-10 Boost Price Target Susquehanna Neutral $42.00 to $43.00
2015-08-06 Boost Price Target Barclays Equal Weight $43.00 to $45.00
2015-07-29 Reiterated Rating Deutsche Bank Hold $44.00
2015-07-20 Initiated Coverage Deutsche Bank Hold $42.00
2015-07-18 Reiterated Rating Keefe, Bruyette & Woods Hold
2015-07-17 Boost Price Target Keefe, Bruyette & Woods Market Perform $38.00 to $43.00
2015-07-02 Boost Price Target Jefferies Group $40.00 to $42.00
2015-07-02 Boost Price Target Citigroup Inc. Neutral $40.00 to $41.00
2015-06-26 Boost Price Target Credit Suisse $44.00 to $48.00
2015-06-18 Initiated Coverage Stephens Overweight $45.00
2015-06-16 Boost Price Target Sanford C. Bernstein $40.00 to $41.00
2015-06-01 Downgrade Wedbush Hold
2015-05-26 Upgrade Guggenheim Neutral to Buy $45.00
2015-05-11 Lower Price Target Susquehanna Neutral $43.00 to $42.00
2015-04-28 Lower Price Target Citigroup Inc. Neutral $43.00 to $40.00
2015-04-24 Lower Price Target BMO Capital Markets Market Perform $43.00 to $42.00
2015-04-24 Downgrade Compass Point Buy to Neutral $41.00 to $39.00
2015-04-23 Downgrade Portales Partners Sector Perform to Underperform
2015-04-08 Initiated Coverage Argus Buy $45.00
2015-04-01 Downgrade JPMorgan Chase & Co. Overweight to Neutral $40.50 to $39.00
2015-03-27 Upgrade FBR & Co. Market Perform to Outperform $40.00 to $45.00
2015-03-16 Reiterated Rating Citigroup Inc. Hold $42.00 to $43.00
2015-03-09 Upgrade Miller Tabak Hold to Buy
2015-02-12 Initiated Coverage Sandler O'Neill Buy $43.00
2015-02-06 Initiated Coverage Credit Suisse Outperform $130.00
2015-01-08 Lower Price Target JPMorgan Chase & Co. Overweight $41.00 to $40.50
2015-01-05 Boost Price Target Barclays Equal Weight $40.00 to $43.00
2014-12-29 Downgrade Rafferty Capital Markets Buy to Hold $39.37 to $41.00
2014-12-15 Initiated Coverage Guggenheim Neutral $41.00
2014-11-07 Downgrade Citigroup Inc. Buy to Neutral
2014-10-27 Upgrade Sterne Agee CRT Neutral to Buy $43.00
2014-10-23 Downgrade Goldman Sachs Buy to Neutral $41.00 to $39.00
2014-10-23 Downgrade Goldman Sachs Group Inc. Buy to Neutral $41.00 to $39.00
2014-10-17 Reiterated Rating Citigroup Inc. Buy $45.00 to $42.00
2014-10-17 Reiterated Rating Keefe, Bruyette & Woods Market Perform $40.00 to $38.00
2014-10-17 Reiterated Rating Compass Point Buy $42.00 to $41.00
2014-10-07 Reiterated Rating Citigroup Inc. Buy $44.00 to $45.00
2014-10-07 Initiated Coverage Sanford C. Bernstein Market Perform $41.00
2014-09-12 Boost Price Target BMO Capital Markets $38.00 to $40.00
2014-08-06 Upgrade Wells Fargo & Co. Market Perform to Outperform
2014-08-06 Upgrade Wells Fargo Market Perform to Outperform
2014-07-22 Reiterated Rating Jefferies Group Hold $42.00 to $41.00
2014-07-22 Reiterated Rating Goldman Sachs Buy $44.00 to $43.00
2014-07-07 Upgrade Credit Agricole Sell to Outperform $45.00 to $33.00
2014-07-07 Upgrade Credit Agricole SA Sell to Outperform $45.00 to $33.00
2014-07-01 Reiterated Rating Citigroup Inc. Buy $46.00 to $45.00
2014-06-30 Boost Price Target Goldman Sachs $43.00 to $44.00
2014-05-30 Initiated Coverage Sterne Agee CRT Neutral
2014-05-05 Upgrade Credit Suisse Neutral to Outperform $46.50
2014-04-29 Reiterated Rating JPMorgan Chase & Co. Overweight $41.50
2014-04-24 Reiterated Rating Deutsche Bank Hold $39.00
2014-04-21 Downgrade Oppenheimer Outperform to Market Perform
2014-04-21 Reiterated Rating Raymond James Outperform $42.00
2014-04-21 Reiterated Rating Jefferies Group Hold $42.00
2014-04-21 Reiterated Rating Compass Point Buy $42.00
2014-04-03 Downgrade Raymond James Strong-Buy to Outperform $44.00
2014-01-28 Downgrade Morgan Stanley Overweight to Equal Weight $43.00
2014-01-17 Reiterated RBC Capital Mkts Outperform $40 to $42
2014-01-17 Lower Price Target Credit Suisse $42.00 to $41.00
2014-01-17 Downgrade Hilliard Lyons Buy to Neutral
2014-01-17 Boost Price Target RBC Capital Sector Perform to Outperform $40.00 to $42.00
2014-01-16 Boost Price Target Wunderlich Buy $42.00 to $45.00
2014-01-14 Initiated Coverage Janney Montgomery Scott Neutral
2014-01-07 Upgrade JPMorgan Chase & Co. Neutral to Overweight
2014-01-06 Upgrade Raymond James Outperform to Strong-Buy
2013-12-16 Boost Price Target Evercore ISI Overweight $37.00 to $44.00
2013-12-12 Boost Price Target Compass Point Buy $40.00 to $43.00
2013-12-04 Upgrade Morgan Stanley Equal Weight to Overweight $39.00 to $40.00
2013-12-03 Reiterated Rating Guggenheim Neutral $38.00 to $40.00
2013-10-18 Lower Price Target BMO Capital Markets Market Perform $40.00 to $37.00
2013-10-18 Lower Price Target Sanford C. Bernstein Market Perform $38.00 to $37.00
2013-10-18 Reiterated Rating Compass Point Buy
2013-10-08 Initiated Coverage Evercore ISI Neutral $36.00
2013-10-01 Upgrade Oppenheimer Market Perform to Outperform $40.00
2013-09-30 Lower Price Target Guggenheim Neutral $40.00 to $38.00
2013-09-18 Boost Price Target JPMorgan Chase & Co. Neutral $35.50 to $36.50
2013-09-17 Upgrade Goldman Sachs Neutral to Buy $37.00 to $39.00
2013-06-03 Reiterated Wunderlich Buy $35 to $38
2013-04-18 Reiterated Wunderlich Buy $36 to $35
2013-04-09 Upgrade Compass Point Neutral to Buy $34 to $38
2013-01-18 Reiterated Compass Point Neutral $32 to $34
2012-10-22 Downgrade Sterne Agee Buy to Neutral $37 to $32
2012-07-20 Reiterated FBR Capital Mkt Perform $30 to $33
2012-01-31 Initiated Wunderlich Buy $34
2012-01-30 Reiterated Compass Point Neutral $27 to $31
2012-01-18 Downgrade Compass Point Buy to Neutral
2011-12-16 Initiated UBS Buy $28
2011-04-25 Downgrade Oppenheimer Outperform to Perform
2011-03-16 Upgrade Deutsche Bank Hold to Buy $28 to $31
2016-07-11 Downgrade Robert W. Baird Outperform to Neutral $40.00 to $37.00
2016-07-10 Reiterated Rating Barclays PLC Equal Weight $40.00
2016-07-09 Reiterated Rating Wells Fargo & Co. Buy
2016-07-06 Reiterated Rating BMO Capital Markets Outperform $40.00
2016-06-29 Downgrade Sandler O'Neill Buy to Hold $37.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Thompson Thomas Nichols 0.08%  (558988) BBT /
Williams Stephen T 0.05%  (385507) BBT /
KING KELLY S Chairman and CEO 0.04%  (314578) BBT /
ALLISON JOHN A 0.04%  (292739) BBT / MC /
Brown Ricky Sr. Executive Vice President 0.03%  (202933) BBT /
WILSON CHARLES L Sr. Executive Vice President 0.02%  (145475) BBT /
Henson Christopher L Chief Operating Officer 0.02%  (144113) BBT /
Bible Daryl N. Chief Financial Officer 0.02%  (142526) BBT /
KENDRICK ERIC C 0.02%  (129999) BBT /
GREENE ROBERT E Sr. Executive Vice President 0.02%  (120894) BBT /
Starnes Clarke R III Sr. Executive Vice President 0.02%  (110196) BBT /
DUCK BARBARA F Sr. Executive Vice President 0.01%  (88967) BBT /
RICH TOLLIE W JR 0.01%  (57608) BBT /
QUBEIN NIDO R 0.01%  (54080) BBT / LZB /
PATTON CHARLES A 0.01%  (52578) BBT /
WILLIAMS CYNTHIA A Sr. Executive Vice President 0.01%  (50501) BBT /
MILLIGAN EDWARD C 0.01%  (47278) BBT /
REUTER WILLIAM J 0.01%  (46924) BBT / SUSQ /

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