Douglas Lane & Associates LLC raised its stake in BB&T Co. (NYSE:BBT) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,388,127 shares of the insurance provider’s stock after buying an additional 46,387 shares during the period. BB&T makes up approximately 1.4% of Douglas Lane & Associates LLC’s holdings, making the stock its 21st largest holding. Douglas Lane & Associates LLC’s holdings in BB&T were worth $60,134,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. IMS Capital Management acquired a new stake in shares of BB&T in the third quarter valued at approximately $39,000. Cornerstone Advisors Inc. grew its position in shares of BB&T by 19.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 240 shares during the last quarter. Zions Bancorporation acquired a new stake in shares of BB&T in the third quarter valued at approximately $102,000. Girard Partners LTD. acquired a new stake in shares of BB&T in the third quarter valued at approximately $142,000. Finally, SRS Capital Advisors Inc. boosted its position in BB&T by 4,311.8% during the third 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 last quarter. 63.97% of the stock is owned by institutional investors.
In related news, Director Patrick C. Graney III purchased 4,200 shares of the firm’s stock in a transaction on Thursday, December 6th. The shares were bought at an average price of $47.56 per share, for a total transaction of $199,752.00. Following the acquisition, the director now directly owns 4,200 shares in the company, valued at $199,752. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director I. Patricia Henry sold 611 shares of BB&T 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 completion of the transaction, the director now owns 4,375 shares in the company, valued at approximately $216,562.50. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.01. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. BB&T’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. Sell-side analysts forecast that BB&T Co. will post 4.04 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on BBT. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 23rd. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. BB&T presently has an average rating of “Hold” and an average price target of $54.64.
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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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