On Tuesday Guggenheim Partners analysts upgraded financial services company BB&T Corporation (BBT), noting a dividend boost is likely in the near term.
The firm upgraded BBT from “Neutral” to “Buy” and boosted its price target to $38. This new target suggests a 25% upside to Monday’s closing price of $30.52.
BB&T shares were up 34 cents, or 1.11%, during morning trading on Tuesday. The stock is up about +6% over the trailing twelve months.
The Bottom Line
Shares of BBT currently offer a dividend yield of 2.99% based on Tuesday’s intraday trading price of $30.80 and the company’s annualized dividend payout of 92 cents per share.
BB&T Corporation (BBT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.