First National Trust Co. boosted its stake in BB&T Corporation (NYSE:BBT) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,782 shares of the insurance provider’s stock after buying an additional 9,239 shares during the period. First National Trust Co.’s holdings in BB&T Corporation were worth $3,342,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in BB&T Corporation by 9.1% in the fourth quarter. State Street Corp now owns 40,097,333 shares of the insurance provider’s stock valued at $1,885,369,000 after buying an additional 3,351,525 shares in the last quarter. Dodge & Cox purchased a new position in BB&T Corporation during the fourth quarter valued at approximately $996,945,000. First Eagle Investment Management LLC raised its position in BB&T Corporation by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 15,618,624 shares of the insurance provider’s stock valued at $698,152,000 after buying an additional 403,087 shares in the last quarter. American Century Companies Inc. raised its position in BB&T Corporation by 6.0% in the first quarter. American Century Companies Inc. now owns 8,683,308 shares of the insurance provider’s stock valued at $388,144,000 after buying an additional 489,519 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in BB&T Corporation by 1.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 8,617,652 shares of the insurance provider’s stock valued at $405,202,000 after buying an additional 110,983 shares in the last quarter. Institutional investors and hedge funds own 64.66% of the company’s stock.
Shares of BB&T Corporation (BBT) opened at 44.33 on Friday. The firm has a market capitalization of $35.97 billion, a PE ratio of 17.32 and a beta of 1.06. The firm has a 50-day moving average price of $43.12 and a 200-day moving average price of $45.38. BB&T Corporation has a 1-year low of $32.85 and a 1-year high of $49.88.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings data on Thursday, April 20th. The insurance provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.80 billion. BB&T Corporation had a net margin of 19.06% and a return on equity of 9.49%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 EPS. On average, analysts forecast that BB&T Corporation will post $2.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.71%. BB&T Corporation’s payout ratio is currently 46.69%.
Several research analysts have recently commented on BBT shares. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. FBR & Co restated a “hold” rating on shares of BB&T Corporation in a research report on Friday, April 21st. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. Royal Bank Of Canada restated a “buy” rating and set a $50.00 price target on shares of BB&T Corporation in a research report on Tuesday, April 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research report on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. BB&T Corporation presently has a consensus rating of “Hold” and an average price target of $45.09.
In other BB&T Corporation news, insider Clarke R. Starnes III sold 53,594 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $43.37, for a total value of $2,324,371.78. Following the completion of the transaction, the insider now directly owns 131,350 shares of the company’s stock, valued at approximately $5,696,649.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
BB&T Corporation Company Profile
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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