Guggenheim Downgrades BB&T (BBT)
Guggenheim announced today that it has downgraded financial holding company BB&T (BBT) from “Buy” to “Neutral.” The company’s price target remained unchanged at $38.50.
BB&T, which currently is one of the largest financial holding companies in the U.S., has recently fallen under scrutiny among analysts, who believe the company’s revenue growth over the next tree years will be a meager 4.1%. But if interest rates were to rise in the near future, BB&T could see greater opportunities for increased profits.
Shares of BB&T inched 0.7% higher during Thursday’s trading session. Year-to-date, the stock is up 10.11%.
The Bottom Line
Shares of BB&T (BBT) currently have a dividend yield of 2.70% based on Thursday’s closing price of $34.12 and its annual payout of 92 cents.
BB&T (BBT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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