J.P. Morgan Offers 4Q Glimpse of BB&T

J.P. Morgan has released a research report concerning BB&T Corporation's BBT moderate 4Q. “There were several other non-recurring items in 4Q, but they were generally offsetting. 4Q earnings was led by moderate growth in net interest income, large growth in securities portfolio funded by large CD growth, solid mortgage banking, and seasonal increase in insurance fees, which offset much larger than expected qoq doubling of foreclosure related costs,” J.P. Morgan said in the report. J.P. Morgan maintains its Neutral rating and $30.00 PT for BB&T Corporation, which closed Friday at $27.49.