BB&T Corporation (BBT) has emerged from the financial crisis on the positive side with its increased M&A activity, says Tom Mitchell, Senior Analyst at Miller Tabak + Co., LLC.
“BBT (BBT) has made relatively few mistakes and has consistently built its portfolio largely by buying community banks, midsize banks or on occasion distressed banks,” said Mitchell.
What has worked for BBT, Mitchell says, is the acquisition of banks in their own territory or in a similar territory demographically,which saves on operating expenses while positioning greater efficiencies. He says BBT can keep up the M&A activity as opportunities abound for acquisitions in the Southeast.
“BBT, we think, is well worth buying for the additional 5% to 6% a year they can add to their earnings and book value through making smart deals, which they’ve done very consistently for decades,” said Mitchell.
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