River Wealth Advisors LLC decreased its holdings in shares of BB&T Co. (NYSE:BBT) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,840 shares of the insurance provider’s stock after selling 2,641 shares during the period. BB&T comprises about 1.3% of River Wealth Advisors LLC’s portfolio, making the stock its 19th largest holding. River Wealth Advisors LLC’s holdings in BB&T were worth $3,203,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BBT. Financial Advantage Inc. bought a new position in shares of BB&T during the fourth quarter worth about $27,000. Athena Capital Advisors LLC bought a new position in shares of BB&T during the fourth quarter worth about $28,000. Sontag Advisory LLC bought a new position in shares of BB&T during the fourth quarter worth about $28,000. Truvestments Capital LLC bought a new position in shares of BB&T during the first quarter worth about $30,000. Finally, Destination Wealth Management grew its position in shares of BB&T by 375.0% during the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 65.51% of the company’s stock.
Several equities analysts have recently commented on the stock. Stephens lowered shares of BB&T from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, March 6th. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Bank of America upgraded shares of BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price target for the company in a research report on Friday, February 8th. BMO Capital Markets upped their price target on shares of BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, February 11th. Finally, FIG Partners upgraded shares of 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. BB&T presently has a consensus rating of “Hold” and an average target price of $53.49.
Shares of BBT opened at $48.06 on Friday. The stock has a market capitalization of $36.91 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.88 and a quick ratio of 0.87. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $56.03.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. BB&T had a net margin of 23.68% and a return on equity of 12.16%. BB&T’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities research analysts expect that BB&T Co. will post 4.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given 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 3.37%. BB&T’s dividend payout ratio is presently 40.00%.
In related news, insider Donta L. Wilson sold 3,418 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the transaction, the insider now owns 14,911 shares in the company, valued at approximately $733,024.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cynthia B. Powell sold 2,651 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total transaction of $130,482.22. The disclosure for this sale can be found here. Insiders sold a total of 10,647 shares of company stock valued at $534,461 in the last quarter. 0.49% of the stock is currently owned by insiders.
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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