BRYN MAWR TRUST Co grew its position in shares of BB&T Co. (NYSE:BBT) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,514 shares of the insurance provider’s stock after buying an additional 5,698 shares during the quarter. BB&T accounts for approximately 1.0% of BRYN MAWR TRUST Co’s holdings, making the stock its 27th largest position. BRYN MAWR TRUST Co’s holdings in BB&T were worth $16,528,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp increased its stake in shares of BB&T by 31.6% in the 3rd quarter. Mackenzie Financial Corp now owns 9,412 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 2,262 shares in the last quarter. Mercer Capital Advisers Inc. purchased a new stake in shares of BB&T in the 4th quarter worth $178,000. Pacer Advisors Inc. increased its stake in shares of BB&T by 13.9% in the 3rd quarter. Pacer Advisors Inc. now owns 41,596 shares of the insurance provider’s stock worth $2,019,000 after purchasing an additional 5,061 shares in the last quarter. Welch & Forbes LLC increased its stake in shares of BB&T by 51.5% in the 4th quarter. Welch & Forbes LLC now owns 15,590 shares of the insurance provider’s stock worth $675,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Union Bankshares Corp increased its stake in shares of BB&T by 4.2% in the 4th quarter. Union Bankshares Corp now owns 109,084 shares of the insurance provider’s stock worth $4,725,000 after purchasing an additional 4,393 shares in the last quarter. 64.13% of the stock is currently owned by hedge funds and other institutional investors.
In other BB&T news, Director Patrick C. Graney III purchased 3,890 shares of the business’s stock in a transaction on Thursday, February 28th. The stock was acquired at an average price of $51.04 per share, for a total transaction of $198,545.60. Following the purchase, the director now owns 11,456 shares of the company’s stock, valued at approximately $584,714.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director I. Patricia Henry sold 2,289 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $51.51, for a total value of $117,906.39. Following the completion of the sale, the director now owns 4,543 shares of the company’s stock, valued at approximately $234,009.93. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
Several research firms have recently commented on BBT. Stephens lowered BB&T from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Bank of America upgraded BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective for the company in a research note on Friday, February 8th. FIG Partners upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Friday, February 8th. BMO Capital Markets upped their price objective on BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, February 11th. Finally, Odeon Capital Group assumed coverage on BB&T in a research note on Friday, March 8th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $53.96.
Shares of BBT stock opened at $48.02 on Thursday. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $56.03. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.15.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $0.83 EPS. BB&T’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts expect that BB&T Co. will post 4.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 13th were paid a $0.405 dividend. The ex-dividend date of this dividend was Tuesday, February 12th. This represents a $1.62 dividend on an annualized basis and a yield of 3.37%. BB&T’s payout ratio is presently 40.00%.
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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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