We perform a complete study by using the theory of invariant point transformations and the singularity analysis for the generalized Camassa-Holm (CH) equation and the generalized Benjamin-Bono-Mahoney (BBM) equation. From the Lie theory we find that the two equations are invariant under the same three-dimensional Lie algebra which is the same Lie algebra admitted by the CH equation. We determine the one-dimensional optimal system for the admitted Lie symmetries and we perform a complete classification of the similarity solutions for the two equations of our study. The reduced equations are studied by using the point symmetries or the singularity analysis. Finally, the singularity analysis is directly applied on the partial differential equations from where we infer that the generalized equations of our study pass the singularity test and are integrable.