Steward Partners Investment Advisory LLC purchased a new stake in BB&T Co. (NYSE:BBT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,315 shares of the insurance provider’s stock, valued at approximately $718,000.
A number of other hedge funds also recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC bought a new position in BB&T in the second quarter valued at about $111,000. Community Bank N.A. grew its position in BB&T by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 144 shares during the last quarter. Highstreet Asset Management Inc. grew its position in BB&T by 105.3% in the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 1,566 shares during the last quarter. Dupont Capital Management Corp bought a new position in BB&T in the second quarter valued at about $170,000. Finally, Cable Hill Partners LLC grew its position in BB&T by 7,184.0% in the third quarter. Cable Hill Partners LLC now owns 3,642 shares of the insurance provider’s stock valued at $171,000 after acquiring an additional 3,592 shares during the last quarter. 65.39% of the stock is owned by institutional investors and hedge funds.
BB&T Co. (NYSE BBT) opened at $49.53 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $39,080.00, a P/E ratio of 16.35, a P/E/G ratio of 2.28 and a beta of 1.00. BB&T Co. has a 12 month low of $41.17 and a 12 month high of $51.11.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, November 9th. BB&T’s dividend payout ratio is currently 49.07%.
BBT has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $50.00 target price on shares of BB&T in a research report on Thursday, October 12th. Zacks Investment Research cut BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price target on shares of BB&T in a report on Sunday, October 22nd. Jefferies Group restated a “hold” rating and set a $49.00 price target on shares of BB&T in a report on Friday, September 15th. Finally, BMO Capital Markets boosted their price target on BB&T from $48.00 to $49.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.28.
In related news, VP Donta L. Wilson sold 4,250 shares of BB&T stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $47.51, for a total value of $201,917.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Donna C. Goodrich sold 10,799 shares of BB&T stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total value of $505,069.23. Following the completion of the transaction, the insider now directly owns 47,182 shares in the company, valued at $2,206,702.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,150 shares of company stock worth $8,712,859. 0.36% of the stock is owned by insiders.
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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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