Sumitomo Mitsui Asset Management Company LTD Grows Stake in BB&T Corporation (BBT)

Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of BB&T Corporation (NYSE:BBT) by 52.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,113 shares of the insurance provider’s stock after buying an additional 33,673 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in BB&T Corporation were worth $4,605,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of BB&T Corporation during the 2nd quarter worth $111,000. Community Bank N.A. raised its stake in BB&T Corporation by 6.2% in the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. acquired a new position in BB&T Corporation in the 2nd quarter valued at about $136,000. Guardian Life Insurance Co. of America raised its stake in BB&T Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in BB&T Corporation by 51.1% in the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 1,045 shares during the last quarter. 65.82% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently weighed in on BBT shares. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 14th. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Friday, July 21st. BMO Capital Markets reissued a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 21st. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a research note on Friday, August 4th. Finally, BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. BB&T Corporation presently has a consensus rating of “Hold” and an average target price of $49.17.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, November 9th. BB&T Corporation’s dividend payout ratio is currently 49.07%.

In related news, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Donta L. Wilson sold 4,250 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.51, for a total value of $201,917.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,103 shares of company stock valued at $8,618,346. Company insiders own 0.36% of the company’s stock.

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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.

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

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