Banks Continue to Perform as BB&T Reports Solid 2Q; Maintaining Our FVE
Narrow-moat-rated BB&T turned in a great quarter, reaching a return on average assets of 1.22% and a return on tangible equity of 15.6%. Core operations remained healthy as noninterest income continued its healthy growth and credit quality remained pristine. We are maintaining our fair value estimate of $46, and we expect the bank to finish the rest of 2017 on a similar note as the current quarter.Core loan growth was better during the quarter, as C&I loans were up at a 6% annualized ra...
BB&T is a financial holding company. Through its bank subsidiary, Branch Banking and Trust Company, the company provides banking services to individuals, businesses and municipalities. The company provides loans and lease financing, including commercial and residential mortgages; permanent commercial real estate financing arrangements; loan servicing for third-party investors; direct consumer finance loans to individuals; credit card lending; automobile financing; and equipment financing. The company also provides other services, including deposits; discount and brokerage, annuities and mutual funds; life insurance, property and casualty insurance, health insurance and commercial general liability insurance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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