Synovus Financial Corp lifted its position in BB&T Co. (NYSE:BBT) by 3.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,535 shares of the insurance provider’s stock after acquiring an additional 1,646 shares during the period. Synovus Financial Corp’s holdings in BB&T were worth $2,404,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of BB&T by 18.0% in the second quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock valued at $1,421,098,000 after buying an additional 4,304,522 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of BB&T by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after buying an additional 547,692 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of BB&T by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 8,401,213 shares of the insurance provider’s stock valued at $423,757,000 after buying an additional 114,817 shares in the last quarter. American Century Companies Inc. grew its stake in shares of BB&T by 4.2% in the second quarter. American Century Companies Inc. now owns 8,192,862 shares of the insurance provider’s stock valued at $413,248,000 after buying an additional 329,277 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new position in shares of BB&T in the second quarter valued at $346,422,000. 64.96% of the stock is owned by institutional investors and hedge funds.
BBT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, October 10th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. B. Riley set a $56.00 price objective on shares of BB&T and gave the stock a “buy” rating in a research report on Monday, October 15th. BMO Capital Markets reduced their price objective on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price objective on shares of BB&T in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. BB&T has an average rating of “Buy” and a consensus price target of $55.50.
In other news, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the completion of the sale, the director now owns 4,375 shares of the company’s stock, valued at $216,562.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.
BBT stock opened at $49.73 on Tuesday. The firm has a market cap of $37.89 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 1.26 and a beta of 0.94. BB&T Co. has a one year low of $45.73 and a one year high of $56.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.
BB&T (NYSE:BBT) last announced its earnings results 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. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. BB&T’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. As a group, sell-side analysts anticipate that BB&T Co. will post 3.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a $0.405 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.26%. BB&T’s payout ratio is presently 51.59%.
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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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