Welch & Forbes LLC lifted its stake in BB&T Co. (NYSE:BBT) by 76.1% in the third quarter, HoldingsChannel.com reports. The firm owned 10,292 shares of the insurance provider’s stock after acquiring an additional 4,449 shares during the quarter. Welch & Forbes LLC’s holdings in BB&T were worth $500,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in BBT. Element Capital Management LLC purchased a new position in BB&T in the first quarter valued at $236,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in BB&T by 22.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,774 shares of the insurance provider’s stock valued at $2,113,000 after purchasing an additional 7,470 shares during the period. Mariner LLC purchased a new position in BB&T in the first quarter valued at $228,000. Atlantic Trust Group LLC boosted its holdings in BB&T by 5.7% in the first quarter. Atlantic Trust Group LLC now owns 193,792 shares of the insurance provider’s stock valued at $10,084,000 after purchasing an additional 10,467 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its holdings in BB&T by 6.7% in the first quarter. Xact Kapitalforvaltning AB now owns 98,130 shares of the insurance provider’s stock valued at $5,107,000 after purchasing an additional 6,201 shares during the period. Hedge funds and other institutional investors own 64.75% of the company’s stock.
Shares of NYSE BBT opened at $48.92 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. BB&T Co. has a 1 year low of $45.73 and a 1 year high of $56.31. The stock has a market cap of $37.39 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05.
BB&T (NYSE:BBT) last posted its earnings results on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that BB&T Co. will post 4 EPS for the current fiscal year.
In other news, insider Donta L. Wilson sold 3,018 shares of BB&T stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total transaction of $155,577.90. Following the sale, the insider now owns 14,911 shares in the company, 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 currently owned by insiders.
A number of research firms recently issued reports on BBT. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a report on Thursday. B. Riley set a $56.00 price target on BB&T and gave the stock a “buy” rating in a report on Monday, October 15th. BMO Capital Markets decreased their price target on BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a report on Friday. Stephens reaffirmed a “buy” rating and set a $59.00 price target on shares of BB&T in a report on Friday, July 20th. Finally, Zacks Investment Research raised 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. 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 currently has an average rating of “Buy” and a consensus target price of $54.58.
BB&T Company Profile
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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