Eaton Vance Management Raises Position in BB&T Co. (BBT)

Eaton Vance Management increased its position in BB&T Co. (NYSE:BBT) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,372,159 shares of the insurance provider’s stock after purchasing an additional 6,196 shares during the quarter. Eaton Vance Management owned approximately 0.18% of BB&T worth $66,605,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new stake in shares of BB&T during the second quarter worth about $382,000. Dupont Capital Management Corp increased its stake in shares of BB&T by 56.3% during the second quarter. Dupont Capital Management Corp now owns 6,951 shares of the insurance provider’s stock worth $351,000 after purchasing an additional 2,505 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of BB&T by 5.5% during the second quarter. Daiwa Securities Group Inc. now owns 27,021 shares of the insurance provider’s stock worth $1,363,000 after purchasing an additional 1,406 shares in the last quarter. Aperio Group LLC increased its stake in shares of BB&T by 6.1% during the second quarter. Aperio Group LLC now owns 449,739 shares of the insurance provider’s stock worth $22,685,000 after purchasing an additional 25,892 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of BB&T by 3.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 335,500 shares of the insurance provider’s stock worth $16,923,000 after purchasing an additional 9,808 shares in the last quarter. 63.83% of the stock is owned by hedge funds and other institutional investors.

In related news, Director I. Patricia Henry sold 611 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Nido R. Qubein sold 2,825 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total transaction of $141,786.75. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, October 23rd. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. B. Riley set a $56.00 target price on shares of BB&T and gave the stock a “buy” rating in a research note on Monday, October 15th. Finally, BMO Capital Markets cut their target price on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. BB&T presently has a consensus rating of “Buy” and an average target price of $55.50.

Shares of NYSE BBT opened at $51.10 on Friday. BB&T Co. has a 12-month low of $45.93 and a 12-month high of $56.31. The stock has a market cap of $38.99 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $0.74 EPS. BB&T’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that BB&T Co. will post 4.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be paid a dividend of $0.405 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.62 annualized dividend and a yield of 3.17%. BB&T’s dividend payout ratio is presently 51.59%.

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BB&T Profile

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

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