BB&T Corp. (BBT) Tops Q2 EPS by 5c

BB&T Corp. (NYSE: BBT) reported Q2 EPS of $0.71, $0.05 better than the analyst estimate of $0.66. Revenue for the quarter came in at $2.79 billion versus the consensus estimate of $2.73 billion.

"We are pleased to report record revenues and total assets for the second quarter," said Chairman and Chief Executive Officer Kelly S. King. "Our strategic acquisitions and strong organic growth have allowed us to expand our footprint and achieve record results. We look forward to further benefits from our recent transactions as we capture efficiencies and grow in these new markets.

"Total FTE revenues were $2.8 billion, up $420 million compared to the second quarter of 2015," said King. "While we remain well-positioned for rising interest rates, our diversified businesses allow us to maintain strong profitability even in a challenging environment.

"We were also pleased to receive the Federal Reserve's non-objection to our capital plan that includes a seven percent dividend increase and a share repurchase program," said King. "This will allow us to continue to provide one of the strongest dividend payouts in the industry.

"As previously announced, we completed the acquisitions of National Penn and Swett & Crawford on April 1st," continued King. "The National Penn systems conversion was completed in mid-July, and both of these acquisitions contributed to our strong second quarter results."

For earnings history and earnings-related data on BB&T Corp. (BBT) click here.

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