Lenox Wealth Advisors LLC purchased a new stake in shares of BB&T Co. (NYSE:BBT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,400 shares of the insurance provider’s stock, valued at approximately $262,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of BBT. IMA Wealth Inc. purchased a new stake in shares of BB&T during the second quarter worth about $116,000. First PREMIER Bank boosted its holdings in shares of BB&T by 64.9% during the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares during the period. Ostrum Asset Management purchased a new stake in shares of BB&T during the first quarter worth about $143,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of BB&T during the first quarter worth about $155,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of BB&T during the second quarter worth about $167,000. Institutional investors and hedge funds own 64.65% of the company’s stock.
In related news, insider Donta L. Wilson sold 3,018 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the transaction, the insider now directly owns 14,911 shares of the company’s stock, valued at $768,662.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of BB&T from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Stephens reiterated a “buy” rating and set a $59.00 target price on shares of BB&T in a report on Friday, July 20th. FIG Partners lowered shares of BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Finally, B. Riley dropped their target price on shares of BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.58.
BBT stock traded down $0.35 during trading on Tuesday, reaching $49.39. The company had a trading volume of 39,805 shares, compared to its average volume of 3,711,685. BB&T Co. has a 52 week low of $44.62 and a 52 week high of $56.31. The company has a market cap of $37.59 billion, a P/E ratio of 15.68, a PEG ratio of 1.04 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.88 and a quick ratio of 0.88.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.02). BB&T had a return on equity of 11.02% and a net margin of 22.53%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company earned $0.77 earnings per share. BB&T’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that BB&T Co. will post 4 earnings per share for the current fiscal year.
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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