A method and data processing system allocates entries in a branch target buffer (BTB). Instructions are fetched from a plurality of instructions and one of the plurality of instructions is determined to be a branch instruction. A corresponding branch target address is determined. A determination is made whether the branch target address is stored in a branch target buffer (BTB). When the branch target address is not stored in the branch target buffer, an entry in the branch target buffer is identified for allocation to receive the branch target address based upon stored metrics such as data processing cycle saving information and branch prediction state. In one form the stored metrics are stored in predetermined fields of the entries of the BTB.