US Bancorp DE decreased its holdings in BB&T Co. (NYSE:BBT) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 398,852 shares of the insurance provider’s stock after selling 1,088 shares during the quarter. US Bancorp DE’s holdings in BB&T were worth $19,360,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. IMA Wealth Inc. acquired a new position in shares of BB&T during the second quarter worth $116,000. First PREMIER Bank increased its position in shares of BB&T by 64.9% during the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of BB&T during the second quarter worth $167,000. Whittier Trust Co. increased its position in shares of BB&T by 591.3% during the second quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 3,678 shares in the last quarter. Finally, Bridgeworth LLC acquired a new position in shares of BB&T during the second quarter worth $197,000. 64.96% of the stock is owned by institutional investors.
In other BB&T news, Director I. Patricia Henry sold 611 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the sale, the director now directly owns 4,375 shares of the company’s stock, valued at $216,562.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that BB&T Co. will post 3.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be issued a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, November 8th. BB&T’s payout ratio is 51.59%.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “buy” rating and set a $59.00 price target on shares of BB&T in a research report on Thursday, July 12th. B. Riley reduced their price target on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price target on shares of BB&T in a research report on Friday, July 20th. FIG Partners downgraded BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Finally, Stephens reaffirmed a “buy” rating and set a $59.00 price target on shares of BB&T in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.50.
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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.
See Also: Return on Investment (ROI)
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