Crossmark Global Holdings Inc. decreased its position in shares of BB&T Co. (NYSE:BBT) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,093 shares of the insurance provider’s stock after selling 3,278 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in BB&T were worth $2,940,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of BB&T during the second quarter valued at $26,000. Capital Bank & Trust Co lifted its holdings in BB&T by 49.6% in the second quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 310 shares during the period. Westside Investment Management Inc. acquired a new stake in BB&T in the second quarter worth about $48,000. NuWave Investment Management LLC acquired a new stake in BB&T in the second quarter worth about $57,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in BB&T by 285.4% in the second 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. 70.16% of the stock is owned by institutional investors.
In other BB&T news, insider David Hudson Weaver sold 21,705 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.44, for a total value of $1,116,505.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.44, for a total transaction of $712,952,605.08. Insiders sold a total of 25,099,147 shares of company stock valued at $714,407,173 over the last three months. 0.49% of the stock is owned by corporate insiders.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the company earned $1.01 EPS. BB&T’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts predict that BB&T Co. will post 4.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 14th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.46%. This is an increase from BB&T’s previous quarterly dividend of $0.41. BB&T’s dividend payout ratio is presently 44.44%.
Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. ValuEngine downgraded shares of BB&T from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. UBS Group reduced their price objective on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group raised shares of BB&T from a “hold” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $58.00 in a report on Tuesday. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $54.27.
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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