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BB&T Corporation (NYSE:BBT) Plans to Eliminate 241 Employees in Pennsylvania

BB&T Corporation (NYSE:BBT) [Trend Analysis] regains street interests, as shares ascend 3.57% on Thursday and it traded at $34.82. BB&T is eliminating 241 employees in Pennsylvania as it consolidates back office functions following its purchase earlier this year of Allentown-based National Penn Bank. Winston-Salem-based BB&T (NYSE:BBT) has begun notifying the affected employees, all of whom were with National Penn prior to the merger, with the layoffs to be completed within 60 days.

Amid those impacted are workers in areas of administrative support, settlements, records maintenance and accounting, according to BB&T spokesman David White. The cuts affect 87 employees in Allentown and 154 in Boyertown, with BB&T offering severance benefits to those who stay through the 60-day notice period and providing career transition services.

Moving toward technical analysis, debt to equity ratio stands at 0.91. This is an important indicator as a higher ratio typically suggests that investors are investing more confidently as compared to companies in the same industry has lower ratios. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at -6.20%. Investors looking further ahead will note that the Price to next year’s EPS is 13.64%.

To narrow down focus on firm’s analytic rating, BBT receives a wide range of reviews through technical indicators; experts eagerly produce EPS tends for quartile and annual, for current quarter trends were $0.66 and $0.70 for next quarter. On annual bases, it has $2.79 for FY 2016 Estimate Trends and $3.18 for FY 2017 Estimate Trends.

To neat down this understanding, 13 analysts rate it as ‘Holding’ security, at the same time as 16 suggests for ‘Buy’ as compare to 15 analyst suggested in 3 month ago. To lodge it average analyst gave price target to 38.78, whereas current price stands at 34.82.

As for as concerns shares volumes, in share capital BB&T Corporation (NYSE:BBT) has 827.19 million outstanding shares among them 804.40 million shares have been floated in market exchange. The firm’s institutional ownership remained 61.10% while insider ownership included 0.30%. The stock showed weekly upbeat performance of 2.62%, which maintained for the month at 1.14%. Likewise the positive performance for the quarter recorded as 8.82% and for the year was -9.76%, while the YTD performance remained at -6.35%.


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