Sunday, January 21, 2018

How Long Will 'Good Enough' Be Enough For BB&T?

The fourth-quarter earnings report for BB&T (BBT) is a bit of a Rorschach test for investors - do you focus on the decent revenue growth and high-single-digit pre-provision profit growth, or do you fret about the weak lending growth, the modest improvement in tangible book value growth, and the likelihood that results in the first half of 2018 will be relatively sluggish before lending activity picks up later next year?

I've been a shareholder of BB&T for some time, and I continue to believe this bank has a good management team and a strong long-term plan for the business. That said, even with long-term earnings growth in the high-single digits (above most of its peers), the shares don't look undervalued today.

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How Long Will 'Good Enough' Be Enough For BB&T?

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