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STI - BB&T Basically On Track Ahead Of Its Game-Changing Merger
SunTrust Banks Inc.
Despite the significant long-term potential benefits of BB&T’s (BBT) merger of equals with SunTrust (STI), the market is still generally against M&A in the banking sector, and BB&T shares have lagged regional bank indices a bit since the deal announcement (about 300bp of underperformance). I continue to believe this is a strong merger, though, and I think BB&T shares remain one of the more interesting values among banks in its weight class.
Not A Perfect Q1, But Basically Good Results
BB&T’s results were pretty typical of the sector this quarter,