BB&T Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component BB&T Corp (NYSE:BBT) will unveil its latest earnings on Thursday, July 21, 2011. BB&T Corporation is a financial holding company which, through its subsidiary Branch Banking and Trust Company, provides a range of banking services and loans to individuals and businesses.

BB&T Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 43 cents per share, a rise of 43.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 40 cents. For the year, analysts are projecting profit of $1.71 per share, a rise of 47.4% from last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked net income of 32 cents per share versus a mean estimate of profit of 31 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $2.15 billion in revenue this quarter, a decline of 11.5% from the year ago quarter. Analysts are forecasting total revenue of $8.52 billion for the year, a decline of 8.2% from last year’s revenue of $9.28 billion.

Analyst Ratings: Analysts seem relatively indifferent about BB&T with 18 of 30 analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 19.7% while it rose 12.4% in the fourth quarter of the last fiscal year and 38.2% in the third quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 8.9% to $2.39 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 2.5%.

Competitors to Watch: JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), SunTrust Banks, Inc. (NYSE:STI), PNC Financial Services (NYSE:PNC), Pinnacle Financial Partners (NASDAQ:PNFP), Regions Financial Corp. (NYSE:RF), Bank of America Corp. (NYSE:BAC), Citigroup (NYSE:C), First Horizon National Corp. (NYSE:FHN), First Security Group, Inc. (NASDAQ:FSGI), and First Citizens BancShares Inc. (NASDAQ:FCNCA).

Stock Price Performance: During May 18, 2011 to July 18, 2011, the stock price had fallen $1.93 (-7%) from $26.91 to $24.98. The stock price saw one of its best stretches over the last year between May 23, 2011 and May 31, 2011 when shares rose for six-straight days, rising 5.5% (+$1.43) over that span. It saw one of its worst periods between August 17, 2010 and August 25, 2010 when shares fell for seven-straight days, falling 6.7% (-$1.55) over that span. Shares are down $1.31 (-4.98%) year to date.

(Source: Xignite Financials)

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