Independent Advisor Alliance raised its position in shares of BB&T Co. (NYSE:BBT) by 20.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,564 shares of the insurance provider’s stock after purchasing an additional 9,896 shares during the quarter. Independent Advisor Alliance’s holdings in BB&T were worth $2,678,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. MCF Advisors LLC grew its stake in BB&T by 1.6% during the 1st quarter. MCF Advisors LLC now owns 65,231 shares of the insurance provider’s stock valued at $3,035,000 after purchasing an additional 1,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in BB&T by 6.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,645 shares of the insurance provider’s stock valued at $2,077,000 after purchasing an additional 2,605 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in BB&T by 22.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 71,468 shares of the insurance provider’s stock valued at $3,325,000 after purchasing an additional 13,288 shares during the last quarter. Raymond James & Associates grew its stake in BB&T by 13.5% during the 1st quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock valued at $114,846,000 after purchasing an additional 292,660 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in BB&T by 15.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 376,376 shares of the insurance provider’s stock valued at $17,513,000 after purchasing an additional 51,701 shares during the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.
BBT has been the subject of several analyst reports. Deutsche Bank cut BB&T from a “buy” rating to a “hold” rating and set a $49.08 price objective for the company. in a report on Friday, January 25th. Odeon Capital Group initiated coverage on BB&T in a report on Friday, March 8th. They issued a “buy” rating for the company. Argus reissued a “buy” rating on shares of BB&T in a report on Friday, January 18th. ValuEngine cut BB&T from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective for the company in a report on Friday, February 8th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $53.49.
In related news, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total value of $130,482.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the transaction, the insider now directly owns 14,911 shares of the company’s stock, valued at approximately $733,024.76. The disclosure for this sale can be found here. Insiders sold a total of 10,647 shares of company stock valued at $534,461 in the last ninety days. 0.49% of the stock is currently owned by insiders.
NYSE BBT traded up $0.12 during trading hours on Thursday, reaching $48.16. The company’s stock had a trading volume of 1,039,785 shares, compared to its average volume of 5,775,960. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.16. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $56.03. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. BB&T’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities analysts predict that BB&T Co. will post 4.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a yield of 3.36%. BB&T’s payout ratio is 40.00%.
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BB&T Company Profile
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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