Hexavest Inc. Has $16.43 Million Stake in BB&T Co. (BBT)

Hexavest Inc. lifted its holdings in shares of BB&T Co. (NYSE:BBT) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,404 shares of the insurance provider’s stock after buying an additional 14,542 shares during the period. Hexavest Inc.’s holdings in BB&T were worth $16,428,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Kistler Tiffany Companies LLC raised its stake in shares of BB&T by 102.6% during the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock worth $117,000 after buying an additional 1,193 shares in the last quarter. Leavell Investment Management Inc. purchased a new position in shares of BB&T during the 4th quarter worth approximately $303,000. Trust Co raised its stake in shares of BB&T by 44.1% during the 3rd quarter. Trust Co now owns 8,200 shares of the insurance provider’s stock worth $385,000 after buying an additional 2,508 shares in the last quarter. Triangle Securities Wealth Management raised its stake in shares of BB&T by 3.3% during the 4th quarter. Triangle Securities Wealth Management now owns 42,214 shares of the insurance provider’s stock worth $2,099,000 after buying an additional 1,350 shares in the last quarter. Finally, Moneywise Inc. purchased a new position in shares of BB&T during the 4th quarter worth approximately $235,000. 65.28% of the stock is owned by institutional investors and hedge funds.

BBT has been the subject of a number of analyst reports. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Morgan Stanley raised their price objective on BB&T from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 20th. BMO Capital Markets raised their price objective on BB&T from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Barclays raised their price objective on BB&T from $51.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $53.00 price objective on shares of BB&T in a research note on Tuesday, January 9th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.00.

BB&T Co. (NYSE BBT) opened at $53.14 on Friday. The firm has a market capitalization of $41,923.26, a P/E ratio of 17.54, a P/E/G ratio of 1.62 and a beta of 0.99. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. BB&T Co. has a one year low of $41.17 and a one year high of $53.91.

BB&T (NYSE:BBT) last announced its earnings results on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a return on equity of 9.64% and a net margin of 19.42%. BB&T’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. equities analysts predict that BB&T Co. will post 3.1 earnings per share for the current fiscal year.

In other BB&T news, insider Donna C. Goodrich sold 26,869 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $49.13, for a total transaction of $1,320,073.97. Following the sale, the insider now owns 78,589 shares in the company, valued at approximately $3,861,077.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.53, for a total value of $3,154,661.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 182,150 shares of company stock worth $8,712,859. 0.36% of the stock is owned by insiders.

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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.

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

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