Bainco International Investors boosted its position in BB&T Corporation (NYSE:BBT) by 8.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,778 shares of the insurance provider’s stock after purchasing an additional 13,505 shares during the period. Bainco International Investors’ holdings in BB&T Corporation were worth $8,204,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC lifted its position in BB&T Corporation by 199.9% in the second quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 1,499 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in BB&T Corporation in the second quarter worth approximately $111,000. Community Bank N.A. lifted its position in BB&T Corporation by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares during the period. Liberty Capital Management Inc. acquired a new stake in BB&T Corporation in the second quarter worth approximately $136,000. Finally, Highstreet Asset Management Inc. lifted its position in BB&T Corporation by 105.3% in the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 1,566 shares during the period. Hedge funds and other institutional investors own 65.82% of the company’s stock.
A number of equities research analysts have weighed in on BBT shares. Jefferies Group LLC restated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 14th. Hilliard Lyons downgraded BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Friday, July 21st. BMO Capital Markets reiterated a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 21st. Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a research report on Friday, August 4th. Finally, BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.17.
Shares of BB&T Corporation (BBT) traded up 1.14% during mid-day trading on Wednesday, reaching $49.80. 1,135,786 shares of the company’s stock traded hands. BB&T Corporation has a 52 week low of $38.23 and a 52 week high of $49.91. The firm has a market cap of $40.24 billion, a price-to-earnings ratio of 18.59 and a beta of 1.07. The company’s 50 day moving average is $46.57 and its 200-day moving average is $45.19.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. BB&T Corporation had a net margin of 19.42% and a return on equity of 9.64%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. Equities analysts expect that BB&T Corporation will post $2.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 annualized dividend and a yield of 2.68%. BB&T Corporation’s dividend payout ratio is currently 49.07%.
In related news, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Kelly S. King sold 66,372 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The disclosure for this sale can be found here. Insiders sold a total of 153,234 shares of company stock worth $7,298,272 over the last ninety days. 0.36% of the stock is currently owned by insiders.
About BB&T Corporation
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.
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