BB&T Corporation (BBT) Shares Sold by Strs Ohio

Strs Ohio reduced its stake in shares of BB&T Corporation (NYSE:BBT) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 949,587 shares of the insurance provider’s stock after selling 34,874 shares during the period. Strs Ohio owned 0.12% of BB&T Corporation worth $43,120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Verus Financial Partners Inc. increased its stake in shares of BB&T Corporation by 11.3% in the first quarter. Verus Financial Partners Inc. now owns 7,942 shares of the insurance provider’s stock valued at $355,000 after buying an additional 809 shares in the last quarter. TNB Financial purchased a new stake in shares of BB&T Corporation during the first quarter valued at $1,371,000. Regentatlantic Capital LLC increased its stake in shares of BB&T Corporation by 5.0% in the first quarter. Regentatlantic Capital LLC now owns 5,440 shares of the insurance provider’s stock valued at $243,000 after buying an additional 257 shares in the last quarter. Bank of Montreal Can increased its stake in shares of BB&T Corporation by 8.2% in the first quarter. Bank of Montreal Can now owns 1,250,716 shares of the insurance provider’s stock valued at $55,906,000 after buying an additional 94,692 shares in the last quarter. Finally, Univest Corp of Pennsylvania increased its stake in shares of BB&T Corporation by 3.6% in the first quarter. Univest Corp of Pennsylvania now owns 89,334 shares of the insurance provider’s stock valued at $3,993,000 after buying an additional 3,109 shares in the last quarter. Hedge funds and other institutional investors own 64.46% of the company’s stock.

BB&T Corporation (NYSE BBT) traded down 0.09% during mid-day trading on Friday, hitting $46.12. 4,394,869 shares of the company were exchanged. The company has a 50 day moving average of $46.45 and a 200 day moving average of $45.21. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88. The stock has a market cap of $37.27 billion, a P/E ratio of 17.22 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that BB&T Corporation will post $2.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.86%. BB&T Corporation’s dividend payout ratio is presently 49.25%.

BB&T Corporation announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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Several analysts recently weighed in on the stock. BidaskClub upgraded shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research report on Friday, August 4th. Wells Fargo & Company assumed coverage on shares of BB&T Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price target on the stock. BMO Capital Markets restated a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research report on Friday, July 21st. Finally, Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.19.

In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total transaction of $410,556.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,610 shares of company stock worth $2,618,364. Corporate insiders own 0.36% of the company’s stock.

About BB&T Corporation

BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.

Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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