Community Trust & Investment Co. lifted its position in shares of BB&T Co. (NYSE:BBT) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,676 shares of the insurance provider’s stock after acquiring an additional 501 shares during the period. Community Trust & Investment Co.’s holdings in BB&T were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in BBT. Nuveen Asset Management LLC grew its position in BB&T by 16,903.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,602,446 shares of the insurance provider’s stock worth $176,988,000 after purchasing an additional 3,581,260 shares during the period. Boston Partners grew its position in BB&T by 22.8% in the 2nd quarter. Boston Partners now owns 7,046,122 shares of the insurance provider’s stock worth $346,224,000 after purchasing an additional 1,308,268 shares during the period. Bank of America Corp DE grew its position in BB&T by 6.8% in the 2nd quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock worth $926,077,000 after purchasing an additional 1,203,362 shares during the period. Vanguard Group Inc. grew its position in BB&T by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock worth $3,006,637,000 after purchasing an additional 1,125,819 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in BB&T by 19.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 6,867,670 shares of the insurance provider’s stock worth $337,408,000 after purchasing an additional 1,121,533 shares during the period. 70.16% of the stock is owned by institutional investors.
BBT has been the subject of a number of research analyst reports. Deutsche Bank set a $59.00 target price on shares of BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Jefferies Financial Group raised shares of BB&T from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $58.00 in a research report on Tuesday. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the stock a “buy” rating in a research report on Friday, August 16th. Morgan Stanley set a $51.00 price target on shares of BB&T and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. BB&T presently has an average rating of “Hold” and an average target price of $54.27.
In other BB&T news, Director K. David Jr. Boyer sold 4,285 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total value of $225,562.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. In the last 90 days, insiders have sold 25,099,147 shares of company stock worth $714,407,173. 0.49% of the stock is owned by corporate insiders.
Shares of BBT traded up $1.06 during trading hours on Friday, reaching $52.39. 134,502 shares of the stock traded hands, compared to its average volume of 4,765,223. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $53.90. The company’s 50-day moving average price is $50.27 and its two-hundred day moving average price is $49.22. The company has a market cap of $39.06 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17.
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, beating analysts’ consensus estimates of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $1.01 EPS. BB&T’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts forecast that BB&T Co. will post 4.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 14th were paid a dividend of $0.45 per share. This is a boost from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.44%. BB&T’s payout ratio is 44.44%.
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.
See Also: Why Invest in Dividend Achievers?
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.