WINSTON-SALEM, N.C. , April 21, 2016 /CNW/ — BB&T Corporation (BBT) reported quarterly earnings for the first quarter of 2016. Net income available to common shareholders was $527 million , up 8.0% from the first quarter of 2015. Earnings per diluted common share were $0.67 for the first quarter of 2016. Excluding merger-related and restructuring charges, net income available to common shareholders was $542 million , or $0.69 per diluted share.
Net income available to common shareholders was $502 million ( $0.64 per diluted share) and $488 million ( $0.67 per diluted share) for the fourth quarter of 2015 and first quarter of 2015, respectively.
“We are pleased to report record net interest income and solid overall performance for the first quarter,” said Chairman and Chief Executive Officer Kelly S. King . “Our strategic acquisitions and organic growth have helped us grow our market share while maintaining low funding costs, and we achieved positive operating leverage from the fourth quarter.
BB&T Corporation earnings per share showed a decreasing trend of -6.2% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 318%.Analysts project EPS growth over the next 5 years at 6.86%. It has EPS annual growth over the past 5 fiscal years of 17% when sales declined -2.3. It reported 15.3% sales growth, and 0% EPS decline in the last quarter.
The stock is trading at $36.37, up 22.43% from 52-week low of $29.95. The stock trades down -10.51% from its peak of $41.9 and 6.13% above the consensus price target of $38.6. Its volume clocked up at 4.81 million shares which is lower than the average volume of 4.97 million shares. Its market capitalization currently stands at $28.44B.
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