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BB&T Is a Top Banking Buy for 2012

Momentum could push stock through major resistance

   

BB&T Corp. (NYSE:BBT) — Although it’s ranked the eighth largest U.S. bank by assets and 1,750 operating branches, BB&T is considered a regional bank. It operates mostly in the southeast United States, and has managed to remain profitable despite the turmoil in the banking system.

In 2009, the company earned $1.15, down from $2.71 in 2008. But it earned $1.16 in 2010, and is expected to earn $1.84 in 2011. And S&P expects BB&T to earn $2.60 in 2012.

Technically BB&T is in a bullish channel that is approaching its bearish resistance line. It has already made significant progress against overwhelming resistance, and last week even broke through the top of its bullish channel. Thus, momentum could push this stock through the major resistance at just over $26 with a target in the mid-$30s by March.

The company pays a dividend of 64 cents for a 2.51% yield and has a history of increases.

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chart key BB&T Is a Top Banking Buy for 2012

 


Article printed from InvestorPlace Media, http://investorplace.com/2011/12/bbt-is-a-top-banking-buy-for-2012/.

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