Meadow Creek Investment Management LLC raised its stake in shares of BB&T Co. (NYSE:BBT) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,024 shares of the insurance provider’s stock after acquiring an additional 924 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in BB&T were worth $1,524,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Marino Stram & Associates LLC bought a new position in shares of BB&T during the 1st quarter worth about $32,000. Resources Investment Advisors Inc. increased its holdings in shares of BB&T by 149.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 957 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 573 shares during the period. Westside Investment Management Inc. bought a new position in shares of BB&T during the 2nd quarter worth about $48,000. NuWave Investment Management LLC bought a new position in shares of BB&T during the 2nd quarter worth about $57,000. Finally, Financial Gravity Wealth Inc. increased its holdings in shares of BB&T by 285.4% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,268 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 939 shares during the period. Institutional investors own 70.26% of the company’s stock.
Several research analysts have recently issued reports on BBT shares. Morgan Stanley set a $51.00 price objective on shares of BB&T and gave the stock a “hold” rating in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. UBS Group decreased their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. BB&T has an average rating of “Buy” and an average price target of $53.95.
Shares of BB&T stock traded up $0.61 during trading on Friday, hitting $53.40. 145,320 shares of the company’s stock traded hands, compared to its average volume of 4,355,941. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87. The firm’s fifty day moving average price is $48.10 and its 200 day moving average price is $48.91. BB&T Co. has a twelve month low of $40.68 and a twelve month high of $53.05. The company has a market cap of $39.26 billion, a PE ratio of 13.19, a PEG ratio of 1.34 and a beta of 1.15.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, equities research analysts anticipate that BB&T Co. will post 4.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.37%. BB&T’s dividend payout ratio (DPR) is presently 44.44%.
BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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