Bloomberg News

BB&T Declines After Net Income Misses Estimates: Atlanta Mover

October 18, 2012

BB&T Corp. (BBT:US), the ninth-largest U.S. bank by deposits, fell the most since June after reporting third-quarter profit that missed analysts’ estimates.

BB&T declined $1.58, or 4.9 percent, to $30.69 at 9:48 a.m. in New York.

Net income rose 28 percent to $469 million, or 66 cents a share, from $366 million, or 52 cents, a year earlier, the Winston-Salem, North Carolina-based bank said today in a statement. Excluding merger costs, earnings were 70 cents a share, compared with the 72-cent average estimate of 32 analysts surveyed by Bloomberg.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net.

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • BBT
    (BB&T Corp)
    • $39.69 USD
    • 0.09
    • 0.23%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus