BB&T’s (BBT) Q2 Earnings & Revenues Beat Expectations

Have you been eager to see how BB&T Corporation BBT performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this North Carolina-based diversified financial holding company’s earnings release this morning:

Earnings Beat

BB&T came out with adjusted earnings per share of 78 cents, which surpassed the Zacks Consensus Estimate of 77 cents.

Better-than-expected results were primarily driven by a rise in revenues and lower expenses.

How Was the Estimate Revision Trend?

You should note that the Zacks Consensus Estimate for Q2 has remained stable over the last 7 days.

Notably, BB&T has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters.

Overall, on an average the company posted positive earnings surprise of 4.8% in the trailing four quarters.

Revenues Beat Expectation

BB&T posted total revenues (taxable-equivalent) of $2.90 billion, outpacing the Zacks Consensus Estimate of $2.86 billion. Moreover, it came 3.9% higher than the year-ago number.

Key Statistics to Note:

• Adjusted Efficiency ratio of 58.6%
• Average loans and leases held for investment were $143.1 billion for the quarter
• Average deposits were $160.3 billion
• Dividend payout ratio of 38.4% as of Jun 30, 2017
• Common equity Tier 1 ratio under Basel III, on a fully-phased in basis, was 10.2% as of Jun 30, 2017

What Zacks Rank Says

BB&T currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)

Check back later for our full write up on this BB&T earnings report!

3 Top Picks to Ride the Hottest Tech Trend

Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy…

Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.