Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in BB&T Co. (NYSE:BBT) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,552 shares of the insurance provider’s stock after selling 18,074 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in BB&T were worth $3,085,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Zions Bancorporation bought a new position in BB&T in the 3rd quarter valued at about $102,000. IMA Wealth Inc. bought a new position in BB&T in the 2nd quarter valued at about $116,000. SRS Capital Advisors Inc. lifted its position in BB&T by 4,311.8% in the 3rd quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 2,932 shares in the last quarter. ClariVest Asset Management LLC bought a new position in BB&T in the 2nd quarter valued at about $167,000. Finally, Bridgeworth LLC bought a new position in BB&T in the 2nd quarter valued at about $197,000. 63.83% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BBT opened at $51.64 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $39.62 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.21 and a beta of 0.94. BB&T Co. has a 52 week low of $45.93 and a 52 week high of $56.31.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a dividend yield of 3.14%. BB&T’s payout ratio is currently 51.59%.
In other news, Director Nido R. Qubein sold 2,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total transaction of $141,786.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I. Patricia Henry sold 611 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $49.50, for a total transaction of $30,244.50. Following the sale, the director now owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
Several equities analysts recently weighed in on BBT shares. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 23rd. B. Riley set a $56.00 price target on shares of BB&T and gave the company a “buy” rating in a research report on Monday, October 15th. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, BMO Capital Markets decreased their price objective on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $55.50.
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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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