Tower Research Capital LLC TRC increased its holdings in shares of BB&T Co. (NYSE:BBT) by 600.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,534 shares of the insurance provider’s stock after purchasing an additional 19,319 shares during the period. Tower Research Capital LLC TRC’s holdings in BB&T were worth $1,137,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its stake in BB&T by 4.6% in the first quarter. Neuberger Berman Group LLC now owns 366,112 shares of the insurance provider’s stock valued at $19,102,000 after acquiring an additional 15,953 shares during the period. Riverhead Capital Management LLC grew its stake in BB&T by 26.3% in the first quarter. Riverhead Capital Management LLC now owns 11,906 shares of the insurance provider’s stock valued at $620,000 after acquiring an additional 2,479 shares during the period. Tyers Asset Management LLC grew its stake in BB&T by 18.2% in the first quarter. Tyers Asset Management LLC now owns 16,928 shares of the insurance provider’s stock valued at $881,000 after acquiring an additional 2,608 shares during the period. Korea Investment CORP grew its stake in BB&T by 111.1% in the first quarter. Korea Investment CORP now owns 461,239 shares of the insurance provider’s stock valued at $24,003,000 after acquiring an additional 242,705 shares during the period. Finally, KCM Investment Advisors LLC acquired a new stake in BB&T in the first quarter valued at approximately $207,000. 65.55% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on BBT shares. BMO Capital Markets reissued a “buy” rating and issued a $59.00 price objective on shares of BB&T in a research note on Thursday, July 12th. Piper Jaffray Companies restated a “hold” rating and issued a $52.00 target price on shares of BB&T in a report on Friday, July 20th. B. Riley dropped their target price on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, July 20th. FIG Partners lowered BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Finally, Stephens reiterated a “buy” rating and set a $59.00 price target on shares of BB&T in a report on Friday, July 20th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. BB&T currently has a consensus rating of “Buy” and an average price target of $55.00.
Shares of BB&T stock opened at $50.21 on Monday. The firm has a market cap of $39.24 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.08 and a beta of 1.02. BB&T Co. has a 12 month low of $43.88 and a 12 month high of $56.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.02). The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.92 billion. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The business’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. research analysts anticipate that BB&T Co. will post 3.99 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th were paid a $0.405 dividend. The ex-dividend date was Thursday, August 9th. This is a positive change from BB&T’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a dividend yield of 3.23%. BB&T’s payout ratio is presently 51.59%.
In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the sale, the insider now directly owns 14,911 shares in the company, valued at $768,662.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.
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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