First Interstate Bank boosted its stake in BB&T Co. (NYSE:BBT) by 4.9% in the first quarter, Holdings Channel reports. The institutional investor owned 6,918 shares of the insurance provider’s stock after buying an additional 325 shares during the quarter. First Interstate Bank’s holdings in BB&T were worth $322,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBT. Norges Bank purchased a new stake in BB&T in the 4th quarter valued at $302,329,000. BlackRock Inc. raised its position in BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock valued at $2,321,062,000 after buying an additional 4,086,502 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in BB&T by 4,179.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,647,587 shares of the insurance provider’s stock valued at $84,000 after buying an additional 3,562,345 shares during the last quarter. Bahl & Gaynor Inc. raised its position in BB&T by 46.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,561,520 shares of the insurance provider’s stock valued at $240,925,000 after buying an additional 1,753,162 shares during the last quarter. Finally, Vanguard Group Inc raised its position in BB&T by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after buying an additional 939,154 shares during the last quarter. 65.07% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BBT opened at $50.79 on Tuesday. The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $56.03.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. On average, equities analysts forecast that BB&T Co. will post 4.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.405 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
A number of equities research analysts recently commented on BBT shares. Zacks Investment Research lowered BB&T from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Bank of America lowered BB&T from a “buy” rating to an “underperform” rating and set a $48.00 price target for the company. in a research report on Thursday, January 10th. They noted that the move was a valuation call. Argus reissued a “buy” rating on shares of BB&T in a research report on Friday, January 18th. Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $49.08 price target for the company. in a research report on Friday, January 25th. Finally, FIG Partners raised BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Friday, February 8th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.49.
In other news, Director Patrick C. Graney III purchased 3,890 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was bought 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 $584,714.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cynthia B. Powell sold 2,651 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total value of $130,482.22. The disclosure for this sale can be found here. Insiders sold a total of 7,229 shares of company stock valued at $366,432 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.
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BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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