Gradient Investments LLC raised its position in BB&T Co. (NYSE:BBT) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,106 shares of the insurance provider’s stock after buying an additional 200 shares during the quarter. Gradient Investments LLC’s holdings in BB&T were worth $166,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of BB&T in the second quarter valued at $26,000. Capital Bank & Trust Co raised its stake in shares of BB&T by 49.6% in the second quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock valued at $46,000 after buying an additional 310 shares during the period. Westside Investment Management Inc. bought a new stake in shares of BB&T in the second quarter valued at $48,000. NuWave Investment Management LLC bought a new stake in shares of BB&T in the second quarter valued at $57,000. Finally, Financial Gravity Wealth Inc. raised its stake in shares of BB&T by 285.4% in the second quarter. Financial Gravity Wealth Inc. now owns 1,268 shares of the insurance provider’s stock valued at $62,000 after buying an additional 939 shares during the period. Hedge funds and other institutional investors own 70.16% of the company’s stock.
In related news, Director K. David Jr. Boyer sold 4,285 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.64, for a total transaction of $225,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,099,147 shares of company stock valued at $714,407,173. 0.49% of the stock is owned by company insiders.
Shares of NYSE BBT opened at $52.00 on Friday. The stock has a market cap of $39.07 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. BB&T Co. has a fifty-two week low of $40.68 and a fifty-two week high of $53.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a fifty day moving average of $50.39 and a 200-day moving average of $49.26.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, sell-side analysts predict that BB&T Co. will post 4.2 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 14th were given a $0.45 dividend. This is a boost from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 3.46%. BB&T’s payout ratio is 44.44%.
Several analysts have issued reports on the company. Deutsche Bank set a $59.00 target price on BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley set a $51.00 target price on BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. UBS Group lowered their target price on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group upgraded BB&T from a “hold” rating to a “buy” rating and lifted their price target for the company from $52.00 to $58.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $54.27.
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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