Sentry Investment Management LLC cut its stake in shares of BB&T Co. (NYSE:BBT) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,671 shares of the insurance provider’s stock after selling 3,876 shares during the period. Sentry Investment Management LLC’s holdings in BB&T were worth $2,032,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BBT. Abacus Planning Group Inc. lifted its position in shares of BB&T by 3.8% in the fourth quarter. Abacus Planning Group Inc. now owns 5,614 shares of the insurance provider’s stock worth $243,000 after buying an additional 208 shares in the last quarter. Wellington Shields Capital Management LLC increased its stake in BB&T by 3.3% during the fourth quarter. Wellington Shields Capital Management LLC now owns 6,970 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 220 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in BB&T by 1.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,505 shares of the insurance provider’s stock worth $585,000 after acquiring an additional 231 shares during the last quarter. IHT Wealth Management LLC increased its stake in BB&T by 3.2% during the fourth quarter. IHT Wealth Management LLC now owns 7,501 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 234 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in BB&T by 2.0% during the fourth quarter. Van ECK Associates Corp now owns 12,400 shares of the insurance provider’s stock worth $537,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
Shares of BBT traded up $0.38 during mid-day trading on Tuesday, reaching $48.72. 133,158 shares of the company’s stock traded hands, compared to its average volume of 5,749,982. The stock has a market cap of $36.67 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.18 and a beta of 1.16. BB&T Co. has a 12 month low of $40.68 and a 12 month high of $56.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88.
BB&T (NYSE:BBT) last released its earnings results on Thursday, April 18th. The insurance provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, analysts predict that BB&T Co. will post 4.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.33%. BB&T’s dividend payout ratio is 40.00%.
Several equities research analysts have weighed in on the company. Stephens cut BB&T from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective on the stock in a research note on Friday, February 8th. BMO Capital Markets boosted 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, FIG Partners raised BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Friday, February 8th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $53.49.
In related news, Director K. David Jr. Boyer sold 2,289 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total value of $118,043.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 14,911 shares of the company’s stock, valued at approximately $733,024.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,647 shares of company stock worth $534,461. 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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