I've said before that North Carolina-based super-regional bank BB&T (NYSE:BBT)
seems to have a knack for moving against the tides in banking. When
other banks are reporting good quarters, BB&T disappoints and when
its super-regional peers report lackluster quarters it seems to do
better. So I suppose it shouldn't really be a surprise that BB&T
offered up a pretty solid set of results in a reporting season where
most of its peers haven't impressed the Street.
BB&T isn't
particularly asset-sensitive and it looks like next year will be another
"muddle through" unless/until rates start moving up. Management is
going to be busy, though, as it has three significant acquisitions to
integrate, including the largest acquisition announced/attempted since
the new regulatory system was put in place.
BB&T shares still
look undervalued to me and the bank still has the capacity to do
additional deals and increase its exposure to commercial lending.
Read more here:
BB&T Breaks From The Pack Again
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