Recent BB&T results allay doubts about credit quality
Article Abstract:
The recent financial performance of BB&T Financial Corp seemingly has allayed investors' fears over the supper-regional bank holding company's financial health and has bolstered the stock price. BB&T stock hit a 52-week high of 28 and 3/8 per share recently. For FY 1991, BB&T realized a $60.2 million profit, an increase of 12.2% from the previous year's profit of $53.6 million. Fully diluted net increased from $2.37 to $2.44 per share. For the 1st qtr of FY 1992, BB&T realized an $18.1 million profit, an increase of 31%. Fully diluted net increased from 61 cents to 67 cents per share.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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Worthen Banking
Article Abstract:
Stephens Inc, the brokerage responsible for selling the 1.2 million share block of Worthen Banking Corp, seems very much involved in the management of Arkansas' largest bank. After the sale of 11% of Worthen's total outstanding stock, Stephens Inc announced Worthen's acquisition of Stephens Diversified Leasing Inc in return for 1.14 million shares in the bank. Shareholders, however, should not be apprehensive since the management of Worthen has shown its effectiveness in four straight years of increasingly better results with a possible fifth record year in 1992.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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First USA Inc
Article Abstract:
First USA Inc had a satisfactory ending for its first fiscal year as a public firm when its stock secured $41 million last May 28, 1992. The firm posted a 600% rise in profits and 28.1% increase in credit card charge volume. First USA's net interest margin also appreciated from 3.64% to 5.08%. The stock has reacted accordingly to the positive developments by trading at a premium. Dir Rupinder Sidhu bought another 90,000 shares at 11 1/2 to 12.
Publication Name: The Insiders' Chronicle
Subject: Business
ISSN: 0162-5152
Year: 1992
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