BB&T to Buy National Penn Bancshares for $1.8 Billion

In light of these facts, Robbins Arroyo LLP is examining National Penn’s board of directors’ decision to sell the company now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects. They presently have a $13.00 target price on the financial services provider’s stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. (Penn National) is a diversified owner and manager of gaming and pari-mutuel properties. The disclosure for this sale can be found here.

The announcement sent National Penn shares up 16.67% to $12.74 in morning trading, while BB&T shares dipped 0.58% to $39.96. The average volume of shares traded on day-to-day bases is 209,000, which is considerably below today’s volume of 1.3 million. The company has a 50-day moving average price of $11.12 and a 200-day moving average price of $10.82.

BB&T is a Fortune 500 company with about $210 billion in assets.

National Penn Bancshares Inc.is up 4.66% in the last 3-month period. The company earned $91.51 million during the quarter, compared to analysts’ expectations of $95.44 million. National Penn Bancshares’s revenue was up 4.8% on a year-over-year basis. The higher estimate for the short term price target is at $25 while the lower estimate is at $14.

NPBC has been the subject of a number of other research reports. Bank of America began coverage on shares of Penn National Gaming in a research report on Monday, July 6th. In order to measure the direction of the analyst sentiment, the same analysts had a rating of 1.52 on the equity three months ago. On August 17, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which BB&T will acquire National Penn. Janney Montgomery Scott reaffirmed a “buy” rating and set a $19.00 price target on shares of Penn National Gaming in a research note on Monday, July 6th. The transaction values Allentown-based National Penn at about $13 a share.

Investors and analysts alike will be marking their calendars when Penn National Gaming, Inc.is expected to report earnings on 2015-10-22. (NASDAQ:PENN) with a rank of 2. The Southern Plains segment’s properties comprise Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Hollywood Casino Gulf Coast, Argosy Casino Riverside, Hollywood Casino Tunica, Boomtown Biloxi, Hollywood Casino at Kansas Speedway and Hollywood Casino St. Louis.