Downgrade Alert for BB&T (BBT)
BB&T (NYSE:BBT) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $38.75 on volume of 7.5 million shares, above average daily volume of 5.5 million.
BB&T Corporation operates banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.
BB&T share prices have moved between a 52-week high of $41.90 and a 52-week low of $29.95 and closed yesterday at 29% above that low price at $38.75 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.
BB&T has overhead space with shares priced $38.75, or 7.7% below the average consensus analyst price target of $41.96. BB&T shares have support at the 200-day moving average (MA) of $35.95 and additional support at the 50-day MA of $34.09.
SmarTrend recommended that subscribers consider buying shares of BB&T on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.56. Since that recommendation, shares of BB&T have risen 7.2%. We continue to monitor BBT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades BB&T