Arizona State Retirement System Boosts Holdings in BB&T Co. (BBT)

Arizona State Retirement System raised its stake in BB&T Co. (NYSE:BBT) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,713 shares of the insurance provider’s stock after acquiring an additional 9,234 shares during the quarter. Arizona State Retirement System’s holdings in BB&T were worth $17,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of BB&T by 18.0% in the 2nd quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after purchasing an additional 4,304,522 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BB&T by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after purchasing an additional 547,692 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of BB&T by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 8,401,213 shares of the insurance provider’s stock valued at $423,757,000 after purchasing an additional 114,817 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of BB&T by 4.2% in the 2nd quarter. American Century Companies Inc. now owns 8,192,862 shares of the insurance provider’s stock valued at $413,248,000 after purchasing an additional 329,277 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new position in shares of BB&T in the 2nd quarter valued at about $346,422,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

BB&T stock opened at $48.28 on Wednesday. BB&T Co. has a fifty-two week low of $45.73 and a fifty-two week high of $56.31. The company has a market cap of $36.00 billion, a P/E ratio of 15.38, a PEG ratio of 1.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, November 8th. BB&T’s payout ratio is 51.59%.

In related news, insider Donta L. Wilson sold 3,018 shares of BB&T stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the transaction, the insider now owns 14,911 shares of the company’s stock, valued at approximately $768,662.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by company insiders.

BBT has been the topic of several recent research reports. Stephens reaffirmed a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Friday, July 20th. B. Riley reduced their target price on shares of BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Thursday, July 12th. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, October 3rd. Finally, ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.12.

BB&T Company Profile

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.

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

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