IFP Advisors Inc Increases Position in BB&T Co. (BBT)

IFP Advisors Inc increased its position in BB&T Co. (NYSE:BBT) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,926 shares of the insurance provider’s stock after purchasing an additional 2,065 shares during the quarter. IFP Advisors Inc’s holdings in BB&T were worth $1,744,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IMA Wealth Inc. acquired a new stake in BB&T in the second quarter worth about $116,000. First PREMIER Bank increased its position in BB&T by 64.9% in the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in BB&T in the first quarter worth about $155,000. ClariVest Asset Management LLC acquired a new stake in BB&T in the second quarter worth about $167,000. Finally, Bridgeworth LLC acquired a new stake in BB&T in the second quarter worth about $197,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

BB&T stock opened at $47.77 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. BB&T Co. has a 1 year low of $45.73 and a 1 year high of $56.31. The stock has a market cap of $36.00 billion, a PE ratio of 15.21, a P/E/G ratio of 1.13 and a beta of 1.05.

BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.01. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the firm earned $0.74 EPS. BB&T’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that BB&T Co. will post 4.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be given a $0.405 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a dividend yield of 3.39%. BB&T’s dividend payout ratio is presently 51.59%.

In related news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the transaction, the insider now directly owns 14,911 shares in the company, valued at approximately $768,662.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.

Several research firms have recently issued reports on BBT. BMO Capital Markets restated a “buy” rating and set a $59.00 target price on shares of BB&T in a research report on Thursday, July 12th. B. Riley decreased their target price on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Piper Jaffray Companies restated a “hold” rating and set a $52.00 target price on shares of BB&T in a research report on Friday, July 20th. FIG Partners lowered BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Finally, Stephens restated a “buy” rating and set a $59.00 target price on shares of BB&T in a research report on Friday, July 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. BB&T has an average rating of “Buy” and an average target price of $55.12.

About BB&T

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.

Further Reading: How to calculate the intrinsic value of a stock

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

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