BB&T (Bbt) Set To Outperform Expectations

Even With the financial stocks still reeling from last weeks pressure BB&T Corporation (NYSE: BBT) has recently performed beyond Wall Street expectations by posting 3rd quarter earnings per share of $.23 from an income of $157 million for the third quarter. These results have strengthened the stock price and the shares have seen a tremendous hike in comparison to the previous year.

"I am pleased with most aspects of our current performance," said President and Chief Executive Officer Kelly S. King. "Our revenue growth for the quarter was very strong at 16.1%, the net interest margin is improved, growth in non interest-bearing deposits is exceptional and the impact from the Colonial acquisition is positive. However, our earnings continue to be negatively affected by a significant provision for credit losses and other costs related to the credit environment"

The management at BB&T Corporation also expresses satisfaction with the current recovery process, just like the Web Search giant Google Inc. (NASDAQ: GOOG) and General Electric Co. (GE). The President and Chief Executive Officer Kelly S. King is confident about the recovery