DF Dent & Co. Inc. Invests $595,000 in BB&T Co. (BBT) Stock

DF Dent & Co. Inc. purchased a new stake in BB&T Co. (NYSE:BBT) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 11,793 shares of the insurance provider’s stock, valued at approximately $595,000.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of BB&T by 1.2% in the first quarter. BlackRock Inc. now owns 49,369,961 shares of the insurance provider’s stock valued at $2,569,212,000 after purchasing an additional 592,656 shares during the period. Bank of America Corp DE increased its stake in shares of BB&T by 18.0% in the second quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after purchasing an additional 4,304,522 shares during the period. Bank of New York Mellon Corp increased its stake in shares of BB&T by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after purchasing an additional 547,692 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of BB&T by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 8,401,213 shares of the insurance provider’s stock valued at $423,757,000 after purchasing an additional 114,817 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of BB&T by 4.2% in the second quarter. American Century Companies Inc. now owns 8,192,862 shares of the insurance provider’s stock valued at $413,248,000 after purchasing an additional 329,277 shares during the period. Institutional investors own 65.55% of the company’s stock.

BBT has been the topic of several analyst reports. Stephens restated a “buy” rating and issued a $59.00 price target on shares of BB&T in a research note on Friday, July 20th. B. Riley dropped their price target on shares of BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. BMO Capital Markets restated a “buy” rating and issued a $59.00 price target on shares of BB&T in a research note on Thursday, July 12th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 price target on shares of BB&T in a research note on Friday, July 20th. Finally, FIG Partners lowered shares of BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $55.00.

In related news, insider Donta L. Wilson sold 3,018 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the completion of the sale, the insider now directly owns 14,911 shares in the company, valued at $768,662.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.51% of the company’s stock.

BB&T stock opened at $50.21 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $39.24 billion, a PE ratio of 15.99, a P/E/G ratio of 1.08 and a beta of 1.02. BB&T Co. has a 12-month low of $43.88 and a 12-month high of $56.31.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. BB&T had a net margin of 22.53% and a return on equity of 11.02%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. sell-side analysts anticipate that BB&T Co. will post 3.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 10th were issued a $0.405 dividend. The ex-dividend date was Thursday, August 9th. This is a boost from BB&T’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 3.23%. BB&T’s dividend payout ratio (DPR) is 51.59%.

BB&T Company Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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