Glenview Trust Co cut its holdings in BB&T Co. (NYSE:BBT) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,566 shares of the insurance provider’s stock after selling 1,000 shares during the quarter. Glenview Trust Co’s holdings in BB&T were worth $1,642,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in BB&T by 1.2% in the first quarter. BlackRock Inc. now owns 49,369,961 shares of the insurance provider’s stock valued at $2,569,212,000 after buying an additional 592,656 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in BB&T by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 16,798,617 shares of the insurance provider’s stock valued at $874,200,000 after buying an additional 141,867 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in BB&T by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 9,689,965 shares of the insurance provider’s stock valued at $481,786,000 after buying an additional 860,902 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in BB&T by 0.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 8,406,619 shares of the insurance provider’s stock valued at $417,977,000 after buying an additional 24,175 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in BB&T by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 7,831,306 shares of the insurance provider’s stock valued at $388,494,000 after buying an additional 51,728 shares in the last quarter. 63.24% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on BB&T from $59.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, April 20th. ValuEngine downgraded BB&T from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Wells Fargo & Co upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Tuesday, March 27th. BMO Capital Markets dropped their target price on BB&T from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, April 20th. Finally, Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Wednesday, February 28th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $54.48.
Shares of BB&T opened at $53.79 on Thursday, according to Marketbeat.com. BB&T Co. has a 1 year low of $43.00 and a 1 year high of $56.31. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The stock has a market cap of $42.26 billion, a PE ratio of 17.13, a P/E/G ratio of 1.19 and a beta of 1.03.
BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, April 19th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.85 billion. BB&T had a return on equity of 10.38% and a net margin of 21.63%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. research analysts anticipate that BB&T Co. will post 4.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 11th were issued a $0.375 dividend. This is an increase from BB&T’s previous quarterly dividend of $0.33. This represents a $1.50 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, May 10th. BB&T’s payout ratio is presently 47.77%.
In other BB&T news, VP Cynthia B. Powell sold 2,817 shares of BB&T stock in a transaction that occurred on Wednesday, April 25th. The stock was sold at an average price of $53.78, for a total value of $151,498.26. Following the completion of the sale, the vice president now directly owns 17,000 shares in the company, valued at $914,260. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Daryl N. Bible sold 74,847 shares of BB&T stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $53.58, for a total value of $4,010,302.26. Following the completion of the sale, the chief financial officer now owns 185,226 shares of the company’s stock, valued at $9,924,409.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,659 shares of company stock valued at $15,774,234. 0.51% of the stock is currently owned by corporate insiders.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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