Inlet Private Wealth LLC Purchases 8,000 Shares of BB&T Co. (BBT)

Inlet Private Wealth LLC raised its position in BB&T Co. (NYSE:BBT) by 63.8% during the 1st quarter, reports. The firm owned 20,532 shares of the insurance provider’s stock after purchasing an additional 8,000 shares during the period. Inlet Private Wealth LLC’s holdings in BB&T were worth $955,000 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. Financial Advantage Inc. bought a new position in shares of BB&T in the 4th quarter valued at about $27,000. Athena Capital Advisors LLC bought a new position in shares of BB&T in the 4th quarter valued at about $28,000. Sontag Advisory LLC bought a new position in shares of BB&T in the 4th quarter valued at about $28,000. Truvestments Capital LLC bought a new position in BB&T during the first quarter worth about $30,000. Finally, Destination Wealth Management grew its holdings in BB&T by 375.0% during the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 570 shares during the period. 65.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BBT traded up $0.52 during trading on Friday, reaching $50.73. 6,828,449 shares of the stock were exchanged, compared to its average volume of 4,946,897. BB&T Co. has a 12 month low of $40.68 and a 12 month high of $56.03. The stock has a market cap of $38.75 billion, a PE ratio of 12.53, a P/E/G ratio of 1.24 and a beta of 1.13. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89.

BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that BB&T Co. will post 4.32 earnings per share for the current year.

In other news, Director K. David Jr. Boyer sold 2,289 shares of BB&T stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.57, for a total value of $118,043.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick C. Graney III purchased 3,890 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was acquired at an average price of $51.04 per share, with a total value of $198,545.60. Following the completion of the transaction, the director now owns 11,456 shares of the company’s stock, valued at approximately $584,714.24. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 7,229 shares of company stock valued at $366,432. Corporate insiders own 0.49% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research cut BB&T from a “buy” rating to a “hold” rating in a report on Tuesday, January 8th. Morgan Stanley reduced their price objective on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Deutsche Bank upgraded BB&T from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Monday, March 25th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BMO Capital Markets boosted their price objective on BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $53.49.

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BB&T Company Profile

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

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

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