Investors sold shares of BB&T Co. (NYSE:BBT) on strength during trading hours on Thursday. $30.54 million flowed into the stock on the tick-up and $92.25 million flowed out of the stock on the tick-down, for a money net flow of $61.71 million out of the stock. Of all companies tracked, BB&T had the 0th highest net out-flow for the day. BB&T traded up $0.39 for the day and closed at $50.13
A number of brokerages have recently commented on BBT. Stephens reissued a “buy” rating and set a $59.00 price objective on shares of BB&T in a research report on Friday, July 20th. B. Riley lowered their price objective on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, October 3rd. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $52.00 price objective on shares of BB&T in a research report on Friday, July 20th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. BB&T presently has an average rating of “Buy” and an average target price of $55.50.
The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The firm has a market cap of $38.65 billion, a PE ratio of 16.17, a P/E/G ratio of 1.25 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, November 8th. BB&T’s dividend payout ratio (DPR) is 51.59%.
In other BB&T news, Director Nido R. Qubein sold 2,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $50.19, for a total value of $141,786.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the completion of the sale, the director now owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BBT. Charles Schwab Investment Advisory Inc. purchased a new stake in BB&T in the second quarter valued at approximately $346,422,000. Bank of America Corp DE lifted its stake in BB&T by 18.0% in the second quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after buying an additional 4,304,522 shares during the last quarter. Epoch Investment Partners Inc. purchased a new stake in BB&T in the second quarter valued at approximately $100,873,000. American Century Companies Inc. lifted its stake in BB&T by 10.5% in the third quarter. American Century Companies Inc. now owns 9,054,595 shares of the insurance provider’s stock valued at $439,510,000 after buying an additional 861,733 shares during the last quarter. Finally, Todd Asset Management LLC purchased a new stake in BB&T in the third quarter valued at approximately $28,864,000. Institutional investors own 64.96% of the company’s stock.
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BB&T Company Profile (NYSE:BBT)
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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