Bank OZK trimmed its stake in BB&T Co. (NYSE:BBT) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,650 shares of the insurance provider’s stock after selling 3,897 shares during the quarter. BB&T makes up 1.0% of Bank OZK’s holdings, making the stock its 25th biggest position. Bank OZK’s holdings in BB&T were worth $2,410,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Zions Bancorporation bought a new stake in BB&T during the 3rd quarter worth approximately $102,000. IMA Wealth Inc. bought a new stake in BB&T during the 2nd quarter worth approximately $116,000. SRS Capital Advisors Inc. increased its holdings in BB&T by 4,311.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 2,932 shares during the period. ClariVest Asset Management LLC bought a new stake in BB&T during the 2nd quarter worth approximately $167,000. Finally, Whittier Trust Co. increased its holdings in BB&T by 591.3% during the 2nd quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock worth $170,000 after acquiring an additional 3,678 shares during the period. Institutional investors own 64.96% of the company’s stock.
BBT stock opened at $50.13 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. BB&T Co. has a 52 week low of $45.73 and a 52 week high of $56.31. The firm has a market cap of $38.51 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.24 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, November 8th. BB&T’s dividend payout ratio is currently 51.59%.
In related news, Director I. Patricia Henry sold 611 shares of the stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total transaction of $30,244.50. Following the transaction, the director now owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by company insiders.
BBT has been the topic of a number of analyst reports. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, October 3rd. B. Riley set a $56.00 target price on shares of BB&T and gave the stock a “buy” rating in a report on Monday, October 15th. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $59.00 target price on shares of BB&T in a report on Thursday, July 12th. Finally, FIG Partners lowered shares of BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus 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.
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