Regional banker BB&T Corporation (BBT) on Thursday posted a 92% rise in first quarter earnings, helped by higher net interest income and lower loan loss provisions.

The Winston-Salem, NC-based company reported first quarter net income of $431 million, or 61 cents per share, compared with $225 million, or 32 cents per share, in the year-ago period.

Revenue rose 15% from last year to $2.34 billion.

On average, Wall Street analysts expected a smaller profit of 59 cents per share, on lower revenue of $2.24 billion.

BB&T shares rose 67 cents, or +2.1%, in premarket trading Thursday.

The Bottom Line
Shares of BB&T (BBT) have a 2.56% dividend yield, based on last night’s closing stock price of $31.28. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $33-$35 price levels.

BB&T Corporation (BBT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

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