Benjamin F. Edwards & Company Inc. decreased its holdings in BB&T Co. (NYSE:BBT) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,595 shares of the insurance provider’s stock after selling 2,396 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in BB&T were worth $577,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BBT. Macquarie Group Ltd. boosted its position in shares of BB&T by 1.7% during the 2nd quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock worth $778,031,000 after purchasing an additional 291,257 shares during the period. First Eagle Investment Management LLC boosted its position in shares of BB&T by 3.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock worth $783,870,000 after purchasing an additional 541,257 shares during the period. Bank of New York Mellon Corp boosted its position in shares of BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock worth $414,436,000 after purchasing an additional 86,200 shares during the period. Burgundy Asset Management Ltd. boosted its position in shares of BB&T by 0.3% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 8,382,444 shares of the insurance provider’s stock worth $393,472,000 after purchasing an additional 27,138 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of BB&T by 12.6% during the 3rd quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock worth $381,012,000 after purchasing an additional 910,225 shares during the period. Institutional investors own 66.01% of the company’s stock.
BB&T Co. (NYSE:BBT) traded up $1.35 on Friday, reaching $52.42. 6,464,362 shares of the company traded hands, compared to its average volume of 4,440,000. The firm has a market capitalization of $41,360.00, a PE ratio of 19.13, a PEG ratio of 1.34 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.89. BB&T Co. has a 1 year low of $41.17 and a 1 year high of $55.99.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. sell-side analysts predict that BB&T Co. will post 3.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 9th will be issued a $0.33 dividend. The ex-dividend date is Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.52%. BB&T’s dividend payout ratio (DPR) is presently 48.18%.
In related news, insider Christopher L. Henson sold 48,524 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $54.75, for a total value of $2,656,689.00. Following the sale, the insider now owns 180,089 shares of the company’s stock, valued at approximately $9,859,872.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kelly S. King sold 60,000 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $54.68, for a total transaction of $3,280,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,923 shares of company stock worth $8,274,322. Corporate insiders own 0.36% of the company’s stock.
A number of research firms recently weighed in on BBT. Zacks Investment Research cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Oppenheimer reaffirmed a “hold” rating on shares of BB&T in a research report on Thursday, January 18th. UBS Group upgraded shares of BB&T from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. increased their target price on shares of BB&T from $48.50 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $52.00 price objective on shares of BB&T in a report on Friday, October 20th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $53.52.
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BB&T Company 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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