BB&T Corporation (BBT) Shares Sold by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. lowered its holdings in shares of BB&T Corporation (NYSE:BBT) by 22.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 172,155 shares of the insurance provider’s stock after selling 50,976 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in BB&T Corporation were worth $7,818,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Community Bank N.A. raised its holdings in shares of BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after buying an additional 144 shares in the last quarter. Liberty Capital Management Inc. acquired a new position in shares of BB&T Corporation during the 2nd quarter worth $136,000. Oakworth Capital Inc. raised its holdings in shares of BB&T Corporation by 51.1% during the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after buying an additional 1,045 shares in the last quarter. Guardian Life Insurance Co. of America raised its holdings in shares of BB&T Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares in the last quarter. Finally, Pathstone Family Office LLC acquired a new position in shares of BB&T Corporation during the 1st quarter worth $150,000. 64.30% of the stock is owned by institutional investors.

Shares of BB&T Corporation (BBT) opened at 43.97 on Monday. The company’s 50 day moving average price is $46.55 and its 200 day moving average price is $45.10. The company has a market cap of $35.53 billion, a price-to-earnings ratio of 16.41 and a beta of 1.08. BB&T Corporation has a 12 month low of $36.80 and a 12 month high of $49.88.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the business earned $0.71 EPS. BB&T Corporation’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that BB&T Corporation will post $2.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s payout ratio is currently 49.25%.

BB&T Corporation announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the sale, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 8,752 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is owned by company insiders.

ILLEGAL ACTIVITY WARNING: This article was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://sportsperspectives.com/2017/09/11/bbt-corporation-bbt-shares-sold-by-los-angeles-capital-management-equity-research-inc.html.

BBT has been the subject of a number of research analyst reports. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. BMO Capital Markets reissued a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a report on Friday, June 30th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a report on Friday, July 14th. Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Friday, July 21st. Finally, Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.06.

BB&T Corporation Profile

BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.

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 Corporation (NYSE:BBT).

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

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

Latest News

Leave a Reply