Letko Brosseau & Associates Inc. lifted its position in shares of BB&T Co. (NYSE:BBT) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,273,471 shares of the insurance provider’s stock after purchasing an additional 73,610 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in BB&T were worth $62,566,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in BB&T in the 1st quarter valued at $30,000. Marino Stram & Associates LLC bought a new position in BB&T in the 1st quarter valued at $32,000. Resources Investment Advisors Inc. raised its position in BB&T by 149.2% in the 1st quarter. Resources Investment Advisors Inc. now owns 957 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 573 shares during the last quarter. Westside Investment Management Inc. bought a new position in BB&T in the 2nd quarter valued at $48,000. Finally, Ellis Investment Partners LLC bought a new position in BB&T in the 1st quarter valued at $50,000. 67.93% of the stock is currently owned by institutional investors.
In related news, insider David Hudson Weaver sold 21,705 shares of BB&T 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Louis B. Lynn sold 2,500 shares of BB&T stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total value of $120,825.00. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
Shares of BBT stock traded up $0.23 on Thursday, reaching $45.47. 260,723 shares of the stock were exchanged, compared to its average volume of 4,621,313. The company has a market capitalization of $35.72 billion, a PE ratio of 11.20, a PEG ratio of 1.18 and a beta of 1.12. BB&T Co. has a one year low of $40.68 and a one year high of $53.08. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average price is $49.46.
BB&T (NYSE:BBT) last released its earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.01 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, analysts anticipate that BB&T Co. will post 4.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.96%. BB&T’s payout ratio is currently 40.00%.
Several equities analysts have issued reports on BBT shares. Deutsche Bank set a $59.00 price objective on BB&T and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group cut their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Morgan Stanley set a $51.00 price objective on BB&T and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price objective on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. BB&T currently has an average rating of “Hold” and a consensus target price of $53.86.
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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