Traders Sell Shares of BB&T (BBT) on Strength (BBT)

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.

BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, research analysts predict that BB&T Co. will post 3.82 EPS for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.com-unik.info/2018/11/10/traders-sell-shares-of-bbt-bbt-on-strength-bbt.html.

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.

Recommended Story: What is Cost of Capital?

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit