Aberdeen Asset Management PLC UK lifted its stake in BB&T Corporation (NYSE:BBT) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 740,978 shares of the insurance provider’s stock after acquiring an additional 57,865 shares during the period. Aberdeen Asset Management PLC UK owned 0.09% of BB&T Corporation worth $33,648,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Community Bank N.A. lifted its position in shares of BB&T Corporation by 6.2% in the 2nd 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 in the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T Corporation in the 2nd quarter valued at approximately $136,000. Oakworth Capital Inc. increased its stake in BB&T Corporation by 51.1% in the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after buying an additional 1,045 shares during the period. Guardian Life Insurance Co. of America increased its stake in BB&T Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in BB&T Corporation in the 1st quarter valued at approximately $150,000. 64.30% of the stock is owned by institutional investors and hedge funds.
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Shares of BB&T Corporation (NYSE BBT) traded up 0.16% during mid-day trading on Friday, hitting $44.14. 7,616,071 shares of the stock were exchanged. The stock has a market capitalization of $35.67 billion, a P/E ratio of 17.94 and a beta of 1.08. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88. The stock’s 50 day moving average price is $46.23 and its 200-day moving average price is $44.97.
BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that BB&T Corporation will post $2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a $0.33 dividend. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. BB&T Corporation’s dividend payout ratio is currently 49.25%.
BB&T Corporation declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $1.88 billion in shares. This buyback authorization permits the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. In the last three months, insiders sold 55,610 shares of company stock worth $2,618,364. 0.36% of the stock is owned by corporate insiders.
Several research analysts have recently commented on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a research note on Friday, June 30th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Friday, July 21st. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a report on Friday, August 4th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.06.
BB&T Corporation Profile
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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