Signature Estate & Investment Advisors LLC cut its position in shares of BB&T Co. (NYSE:BBT) by 12.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,474 shares of the insurance provider’s stock after selling 1,085 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in BB&T were worth $363,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of BBT. IMA Wealth Inc. acquired a new stake in BB&T in the second quarter worth $116,000. First PREMIER Bank grew its holdings in BB&T by 64.9% in the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in BB&T in the first quarter worth $155,000. ClariVest Asset Management LLC acquired a new stake in BB&T in the second quarter worth $167,000. Finally, Whittier Trust Co. grew its holdings in BB&T by 591.3% in the second quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 3,678 shares during the period. Institutional investors own 64.75% of the company’s stock.
BBT opened at $48.28 on Friday. 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 Co. has a fifty-two week low of $44.62 and a fifty-two week high of $56.31. The stock has a market cap of $36.95 billion, a P/E ratio of 13.25, a PEG ratio of 1.17 and a beta of 1.05.
BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. BB&T had a net margin of 22.53% and a return on equity of 11.02%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm earned $0.74 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that BB&T Co. will post 4 EPS for the current fiscal year.
In related news, insider Donta L. Wilson sold 3,018 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the transaction, the insider now directly owns 14,911 shares of the company’s stock, valued at $768,662.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.
A number of equities research analysts have commented on BBT shares. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, October 10th. B. Riley set a $56.00 price objective on shares of BB&T and gave the company a “buy” rating in a research note on Monday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price objective on shares of BB&T in a research note on Friday, July 20th. BMO Capital Markets dropped their price objective on shares of BB&T from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Finally, FIG Partners lowered shares of BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target 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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