BB&T reports Q1 EPS 69c, consensus 70c Reports Q1 revenue $2.29B, consensus $2.31B. Reports Q1 Tier 1 capital ratio 10.2%. Reports Q1 net interest income $1.38B. Reports Q1 net charge-offs up $15M to $156M.
BB&T downgraded to Neutral from Buy at Compass Point Compass Point downgraded BB&T to Neutral and lowered its price target to $39 from $41 following the disappointing Q1 report. The firm said loan growth continues to lag, and when combined with NIM pressures and expansion uncertainties into new markets, will prevent adequate book value growth vs. peers. Compass Point recommends investors stay on the sidelines until there is more clarity on the potential benefits from the Susquehanna acquisition.