Northwestern Mutual Wealth Management Co. lessened its stake in shares of BB&T Co. (NYSE:BBT) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,724 shares of the insurance provider’s stock after selling 3,277 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in BB&T were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Advisory Inc. purchased a new stake in BB&T in the 2nd quarter valued at about $346,422,000. Bank of America Corp DE grew its holdings in BB&T by 18.0% in the 2nd quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after buying an additional 4,304,522 shares during the period. Epoch Investment Partners Inc. purchased a new stake in BB&T in the 2nd quarter valued at about $100,873,000. Bank of New York Mellon Corp grew its holdings in BB&T by 5.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after buying an additional 547,692 shares during the period. Finally, Sei Investments Co. grew its holdings in BB&T by 732.2% in the 2nd quarter. Sei Investments Co. now owns 553,153 shares of the insurance provider’s stock valued at $27,902,000 after buying an additional 486,685 shares during the period. Hedge funds and other institutional investors own 64.96% of the company’s stock.
Several analysts have commented on BBT shares. BMO Capital Markets lowered their price target on BB&T from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 20th. Zacks Investment Research cut BB&T from a “buy” rating to a “hold” rating in a report on Friday, October 12th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a report on Saturday. Stephens restated a “buy” rating and issued a $59.00 price target on shares of BB&T in a report on Friday, July 20th. Finally, FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.50.
NYSE BBT opened at $50.76 on Friday. The stock has a market capitalization of $38.65 billion, a PE ratio of 13.03, a PEG ratio of 1.25 and a beta of 0.94. BB&T Co. has a 1-year low of $45.73 and a 1-year high of $56.31. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.
BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts expect that BB&T Co. will post 3.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, November 8th. BB&T’s dividend payout ratio is currently 51.59%.
In related news, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $49.50, for a total transaction of $30,244.50. Following the transaction, the director now directly owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nido R. Qubein sold 2,825 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $50.19, for a total value of $141,786.75. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
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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