Pettyjohn Wood & White Inc. Has $3.99 Million Stake in BB&T Co. (BBT)

Pettyjohn Wood & White Inc. cut its stake in shares of BB&T Co. (NYSE:BBT) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,252 shares of the insurance provider’s stock after selling 1,200 shares during the period. BB&T accounts for approximately 1.3% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 29th largest holding. Pettyjohn Wood & White Inc.’s holdings in BB&T were worth $3,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. V Wealth Management LLC purchased a new position in shares of BB&T during the third quarter worth about $587,000. Toronto Dominion Bank grew its holdings in shares of BB&T by 19.2% during the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock worth $25,387,000 after purchasing an additional 81,234 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of BB&T by 3.1% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 304,053 shares of the insurance provider’s stock worth $15,336,000 after purchasing an additional 9,097 shares in the last quarter. Strs Ohio grew its holdings in shares of BB&T by 3.3% during the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock worth $47,534,000 after purchasing an additional 29,812 shares in the last quarter. Finally, PGGM Investments grew its holdings in shares of BB&T by 10.5% during the third quarter. PGGM Investments now owns 942,555 shares of the insurance provider’s stock worth $45,752,000 after purchasing an additional 89,845 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.

BBT traded up $0.08 during midday trading on Monday, hitting $51.18. The stock had a trading volume of 44,596 shares, compared to its average volume of 4,616,978. The firm has a market cap of $39.38 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.20 and a beta of 0.95. 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 Co. has a 1 year low of $45.93 and a 1 year high of $56.31.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. BB&T had a return on equity of 11.66% and a net margin of 23.52%. BB&T’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that BB&T Co. will post 4.05 earnings per share for the current year.

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

In other BB&T news, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was 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 in the company, valued at $216,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nido R. Qubein sold 2,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total value of $141,786.75. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

Several research analysts have recently commented on BBT shares. ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. 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 report on Wednesday, October 3rd. B. Riley set a $56.00 price objective on BB&T and gave the stock a “buy” rating in a report on Monday, October 15th. Finally, BMO Capital Markets cut their target price on 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 equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $55.50.

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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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