Strategic Advisors LLC increased its position in shares of BB&T Co. (NYSE:BBT) by 9.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,610 shares of the insurance provider’s stock after buying an additional 3,309 shares during the period. Strategic Advisors LLC’s holdings in BB&T were worth $1,826,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Welch & Forbes LLC raised its position in BB&T by 76.1% during the third quarter. Welch & Forbes LLC now owns 10,292 shares of the insurance provider’s stock worth $500,000 after acquiring an additional 4,449 shares during the period. First American Bank acquired a new position in BB&T during the third quarter worth $2,936,000. Verity & Verity LLC raised its position in BB&T by 0.8% during the third quarter. Verity & Verity LLC now owns 189,547 shares of the insurance provider’s stock worth $9,200,000 after acquiring an additional 1,516 shares during the period. Nisa Investment Advisors LLC raised its position in BB&T by 3.0% during the third quarter. Nisa Investment Advisors LLC now owns 318,829 shares of the insurance provider’s stock worth $15,476,000 after acquiring an additional 9,195 shares during the period. Finally, Bainco International Investors raised its position in shares of BB&T by 1.8% in the third quarter. Bainco International Investors now owns 186,005 shares of the insurance provider’s stock valued at $9,029,000 after buying an additional 3,262 shares during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BBT traded up $0.94 during mid-day trading on Thursday, reaching $48.65. The stock had a trading volume of 237,444 shares, compared to its average volume of 3,748,089. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90. BB&T Co. has a 52-week low of $44.62 and a 52-week high of $56.31. The firm has a market capitalization of $37.59 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.04 and a beta of 1.05.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. BB&T had a net margin of 22.53% and a return on equity of 11.02%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. BB&T’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that BB&T Co. will post 4 earnings per share for the current fiscal year.
In related news, insider Donta L. Wilson sold 3,018 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the sale, the insider now owns 14,911 shares of the company’s stock, valued at $768,662.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company’s stock.
A number of equities research analysts have recently commented on BBT shares. BMO Capital Markets reduced their target price on shares of BB&T from $59.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Stephens reiterated a “buy” rating and issued a $59.00 target price on shares of BB&T in a research report on Friday, July 20th. FIG Partners cut shares of BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Finally, B. Riley reduced their target price on shares of BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. BB&T presently has an average rating of “Buy” and an average target price of $54.63.
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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