Bbva Compass Bancshares Inc. reduced its holdings in shares of BB&T Co. (NYSE:BBT) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,613 shares of the insurance provider’s stock after selling 590 shares during the period. Bbva Compass Bancshares Inc.’s holdings in BB&T were worth $447,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in BB&T by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 3,657,100 shares of the insurance provider’s stock worth $177,517,000 after buying an additional 62,699 shares during the period. Morgan Stanley raised its stake in BB&T by 22.2% during the 3rd quarter. Morgan Stanley now owns 3,303,221 shares of the insurance provider’s stock worth $160,338,000 after buying an additional 599,074 shares during the period. Vanguard Group Inc raised its stake in BB&T by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after buying an additional 939,154 shares during the period. TRUE Private Wealth Advisors raised its stake in BB&T by 8.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 5,473 shares of the insurance provider’s stock worth $237,000 after buying an additional 411 shares during the period. Finally, DNB Asset Management AS raised its stake in BB&T by 2.4% during the 4th quarter. DNB Asset Management AS now owns 99,580 shares of the insurance provider’s stock worth $4,314,000 after buying an additional 2,358 shares during the period. 65.51% of the stock is owned by institutional investors.
BBT has been the topic of several research analyst reports. Argus reaffirmed a “buy” rating on shares of BB&T in a research note on Friday, January 18th. Deutsche Bank cut BB&T from a “buy” rating to a “hold” rating and set a $49.08 target price for the company. in a report on Friday, January 25th. Bank of America upgraded BB&T from a “neutral” rating to a “buy” rating and set a $50.46 target price for the company in a report on Friday, February 8th. FIG Partners upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Friday, February 8th. Finally, BMO Capital Markets increased their target price on BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, February 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. BB&T currently has a consensus rating of “Hold” and an average price target of $53.49.
BB&T (NYSE:BBT) last released its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, sell-side analysts forecast that BB&T Co. will post 4.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, May 14th. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
In other news, Director K. David Jr. Boyer sold 2,289 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total value of $118,043.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the transaction, the insider now owns 14,911 shares of the company’s stock, valued at approximately $733,024.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,647 shares of company stock valued at $534,461. Corporate insiders own 0.49% of the company’s stock.
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BB&T Company Profile
BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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