Sterling Capital Management LLC cut its position in shares of BB&T Co. (NYSE:BBT) by 98.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,607 shares of the insurance provider’s stock after selling 1,037,911 shares during the period. Sterling Capital Management LLC’s holdings in BB&T were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in BB&T during the 2nd quarter valued at about $170,000. Penobscot Investment Management Company Inc. grew its stake in BB&T by 8.2% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 70,914 shares of the insurance provider’s stock valued at $3,220,000 after purchasing an additional 5,360 shares during the last quarter. Blair William & Co. IL grew its stake in BB&T by 4.1% during the 2nd quarter. Blair William & Co. IL now owns 41,406 shares of the insurance provider’s stock valued at $1,880,000 after purchasing an additional 1,643 shares during the last quarter. Security National Trust Co. grew its stake in BB&T by 5.1% during the 2nd quarter. Security National Trust Co. now owns 25,764 shares of the insurance provider’s stock valued at $1,170,000 after purchasing an additional 1,245 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in BB&T by 3.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,158,157 shares of the insurance provider’s stock valued at $733,742,000 after purchasing an additional 539,533 shares during the last quarter. 65.28% of the stock is owned by institutional investors and hedge funds.
BB&T Co. (BBT) traded down $0.02 during trading hours on Friday, reaching $53.14. The company had a trading volume of 4,420,000 shares, compared to its average volume of 4,520,000. The stock has a market capitalization of $41,920.00, a price-to-earnings ratio of 19.75, a PEG ratio of 1.62 and a beta of 1.00. BB&T Co. has a 52-week low of $41.17 and a 52-week high of $53.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.86.
BB&T (NYSE:BBT) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.78. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the business posted $0.76 earnings per share. BB&T’s revenue was up 1.4% compared to the same quarter last year. equities analysts anticipate that BB&T Co. will post 3.1 earnings per share for the current fiscal year.
In other news, VP Donta L. Wilson sold 4,250 shares of BB&T stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.51, for a total transaction of $201,917.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP W Bennett Bradley sold 7,762 shares of BB&T stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $48.16, for a total value of $373,817.92. Following the sale, the executive vice president now owns 24,341 shares in the company, valued at approximately $1,172,262.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,150 shares of company stock worth $8,712,859. 0.36% of the stock is owned by insiders.
A number of analysts have recently commented on BBT shares. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. UBS Group upgraded BB&T from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Stephens upgraded BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Thursday, October 5th. SunTrust Banks reiterated a “buy” rating and set a $52.00 price target on shares of BB&T in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. increased their price target on BB&T from $48.50 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. BB&T currently has a consensus rating of “Hold” and an average price target of $52.00.
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BB&T 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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