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.


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Companies Mentioned

  • BBT
    (BB&T Corp)
    • $38.62 USD
    • -0.01
    • -0.03%
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