Cypress Capital Management LLC Has $8.68 Million Holdings in BB&T Co. (BBT)

Cypress Capital Management LLC reduced its position in BB&T Co. (NYSE:BBT) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 200,416 shares of the insurance provider’s stock after selling 1,855 shares during the period. BB&T accounts for about 1.8% of Cypress Capital Management LLC’s portfolio, making the stock its 26th biggest position. Cypress Capital Management LLC’s holdings in BB&T were worth $8,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of BB&T by 1.6% during the third quarter. Vanguard Group Inc. now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after buying an additional 939,154 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of BB&T by 1.6% during the third quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after buying an additional 939,154 shares during the last quarter. BlackRock Inc. grew its holdings in shares of BB&T by 0.3% during the third quarter. BlackRock Inc. now owns 49,492,995 shares of the insurance provider’s stock valued at $2,402,389,000 after buying an additional 144,773 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of BB&T by 6.8% during the third quarter. Macquarie Group Ltd. now owns 14,406,134 shares of the insurance provider’s stock valued at $699,273,000 after buying an additional 920,792 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of BB&T by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after buying an additional 547,692 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on BBT shares. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, October 23rd. Argus reissued a “buy” rating on shares of BB&T in a report on Friday, January 18th. Bank of America raised shares of BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective on the stock in a report on Friday, February 8th. Barclays boosted their price objective on shares of BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, January 2nd. Finally, ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a report on Saturday, November 10th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. BB&T has a consensus rating of “Buy” and an average target price of $53.96.

In other BB&T news, Director Patrick C. Graney III bought 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was bought at an average cost of $47.56 per share, for a total transaction of $199,752.00. Following the completion of the transaction, the director now directly owns 4,200 shares of the company’s stock, valued at approximately $199,752. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.

NYSE BBT opened at $50.82 on Wednesday. The firm has a market cap of $39.20 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $56.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.89 and a quick ratio of 0.88.

BB&T (NYSE:BBT) last posted its earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities analysts predict that BB&T Co. will post 4.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 13th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%. BB&T’s dividend payout ratio is presently 40.00%.

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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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Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).

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

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