BB&T Corporation (BBT) has demonstrated an interest and degree of competence in making acquisitions in addition to having premium price to book value, says Miller Tabak + Co., LLC’s Senior Analyst Thomas S. Mitchell, making it a part of the regional banking core acquirer base.
“If we look at somebody like BBT that has a nice — has a premium price to book value, has been in the business of making acquisitions serially for decades. And it certainly has the management that’s capable of recognizing what will fit in for them, where they can take advantage and enhance their earning power,” Mitchell said.
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Mitchell says BB&T has a bevy of additional acquisition opportunities just in their own market. This coupled with the company’s success and astuteness in making acquisitions make the stock one of Mitchell’s top picks.
“There definitely will be plenty of opportunities just in their own market area, just in Virginia and the Carolinas. You don’t even have to go much further than that, although you can. There will be literally dozens of banks that are probably reasonable targets for them,” Mitchell said.
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