Kavar Capital Partners LLC lifted its position in shares of BB&T Co. (NYSE:BBT) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,607 shares of the insurance provider’s stock after purchasing an additional 1,789 shares during the period. Kavar Capital Partners LLC’s holdings in BB&T were worth $2,732,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of BB&T during the first quarter worth about $30,000. Marino Stram & Associates LLC purchased a new stake in BB&T in the first quarter worth about $32,000. Resources Investment Advisors Inc. lifted its holdings in BB&T by 149.2% in the first quarter. Resources Investment Advisors Inc. now owns 957 shares of the insurance provider’s stock worth $45,000 after buying an additional 573 shares during the period. Westside Investment Management Inc. purchased a new stake in BB&T in the second quarter worth about $48,000. Finally, Ellis Investment Partners LLC purchased a new stake in BB&T in the first quarter worth about $50,000. Institutional investors own 67.93% of the company’s stock.
In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total value of $120,825.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.
Shares of BB&T stock traded up $0.36 on Thursday, hitting $45.60. 233,223 shares of the company’s stock were exchanged, compared to its average volume of 4,621,313. The firm has a 50-day moving average of $49.46. The company has a market capitalization of $35.72 billion, a PE ratio of 11.26, a PEG ratio of 1.18 and a beta of 1.12. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 EPS. Equities research analysts predict that BB&T Co. will post 4.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Tuesday, August 13th. BB&T’s dividend payout ratio is presently 40.00%.
Several research firms have recently issued reports on BBT. JPMorgan Chase & Co. lowered their target price on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. UBS Group lowered their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley set a $51.00 target price on shares of BB&T and gave the company a “hold” rating in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.86.
BB&T Company Profile
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.
Featured Story: What is included in the gross domestic product?
Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.