Thursday Morning Earnings Wrap: Sherwin-Williams Co (SHW), First Republic Bank (FRC), BB&T Corporation (BBT)

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BB&T Corporation (NYSE:BBT) has reported earnings per share of $0.69 for its own second quarter, beating the markets’ estimate by $0.01. However, the company did miss on analysts’ quarterly revenue target of $2.40 billion, with reported revenues of $2.37 billion. At the same time, its revenue grew by 1% year-over-year and the company witnessed 7.1% growth in its net income at $454 million. Some of the primary developments during the second quarter for the company included the acquisition of The Bank of Kentucky, helping BB&T Corporation add $1.6 billion in deposits, and regulatory approval for the acquisition of Susquehanna Bancshares, which is likely to close by August 1.

The shares of BB&T Corporation (NYSE:BBT) have grown by 5.72% year-to-date and are trading down by 1.90% in the pre-market session this morning. Smart money was slightly bullish on this stock during the first quarter, with aggregate investments growing to $744.47 million from previous quarter holdings valued at $710.60 million. Jean-Marie Eveillard’s First Eagle Investment Management held the largest stake in the company in our database, with a position of 14.85 million shares worth $579.04 million.

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