Stratos Wealth Partners LTD. grew its holdings in shares of BB&T Co. (NYSE:BBT) by 22.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,468 shares of the insurance provider’s stock after purchasing an additional 13,288 shares during the period. Stratos Wealth Partners LTD.’s holdings in BB&T were worth $3,325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Advantage Inc. acquired a new position in shares of BB&T during the fourth quarter valued at $27,000. Sontag Advisory LLC acquired a new position in shares of BB&T during the fourth quarter valued at $28,000. Athena Capital Advisors LLC acquired a new position in shares of BB&T during the fourth quarter valued at $28,000. Truvestments Capital LLC acquired a new position in shares of BB&T during the first quarter valued at $30,000. Finally, Destination Wealth Management increased its holdings in shares of BB&T by 375.0% during the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 570 shares during the period. 65.51% of the stock is currently owned by institutional investors.
BBT stock traded up $0.19 during trading hours on Friday, hitting $48.38. 1,456,810 shares of the stock traded hands, compared to its average volume of 4,583,842. BB&T Co. has a one year low of $40.68 and a one year high of $56.03. The stock has a market capitalization of $36.91 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.17 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that BB&T Co. will post 4.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be given a $0.405 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.35%. BB&T’s dividend payout ratio (DPR) is 40.00%.
In related news, insider Donta L. Wilson sold 3,418 shares of the stock in a transaction on 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 owns 14,911 shares in the company, valued at approximately $733,024.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick C. Graney III purchased 3,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was bought at an average price of $51.04 per share, with a total value of $198,545.60. Following the transaction, the director now directly owns 11,456 shares in the company, valued at $584,714.24. The disclosure for this purchase can be found here. Insiders sold a total of 10,647 shares of company stock valued at $534,461 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. Morgan Stanley lowered their price target on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James lowered BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price target on the stock. in a report on Thursday, April 4th. FIG Partners raised BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, February 8th. Finally, BMO Capital Markets raised their target price on BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.49.
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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