BB&T Misses Analysts' Estimates
January 17 2019 - 6:44AM
Dow Jones News
By Allison Prang
BB&T Corp. (BBT) reported an increase in profit in the
fourth quarter as the company's net interest margin expanded and
expenses fell.
The financial firm reported earnings available to common
shareholders of $754 million, up 23% from the comparable quarter a
year ago. It said earnings were 97 cents a share, up from 77 cents
a share. Analysts polled by Refinitiv were expecting earnings of
$1.04 a share.
BB&T reported adjusted earnings of $1.05 a share.
Total taxable-equivalent revenue at BB&T rose 2% to $2.96
billion. Taxable-equivalent net interest income rose 2.8% to $1.73
billion. Noninterest income rose 0.8% to $1.24 billion. Analysts
polled by Refinitiv were expecting total revenue of $2.97
billion.
BB&T's taxable-equivalent net interest margin expanded by 2
basis points from the third quarter to 3.49%. It expanded 6 basis
points from the comparable quarter a year ago.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
January 17, 2019 06:29 ET (11:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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