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.
Click here for the full article:
How Long Will 'Good Enough' Be Enough For BB&T?
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