Earnings Preview: BB&T Corp.

BB&T Corp. (BBT) is expected to report Q3 earnings before market open Thursday, Oct. 16, with a conference call scheduled for 11:00 am.

Guidance

Analysts are looking for EPS of 65c on revenue of $1.87B. The consensus range for EPS is 37c to 75c, while the consensus range for revenue is $1.80B to $1.90B, according to First Call.

Citigroup today upgraded BB&T to Buy from Hold. The firm, which set a target of $39 for the bank, cited the positive impact of the government's assistance plan. Meanwhile, Ladenburg's Richard Bove last month identified BB&T as one of several banks that he believes will probably emerge from the credit crisis with added strength. On the other hand, Friedman Billings last month downgraded the company to Underperform from Market Perform, citing valuation and the firm's forecast that the economy in the mid-Atlantic region would probably weaken further.

Comments

[fatcat:]

Anyone who quotes Bove is a fool...He has been consistently wrong on banks and has probably cost his customers and clients billions...

2008 Oct 15 04:18 PM

[helplessobs...:]

Fatcat, you got it wrong, BBT is in the old fashioned banking and insurance business. Has no exposure in sub-prime market. Mortgage terms are 20% down or mortgage insurance. I expect them to report at least 60 cents in this difficult lending enviroment.

2008 Oct 15 05:12 PM