BB&T Co. (NYSE:BBT) Director Patrick C. Graney III purchased 4,200 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was acquired at an average price of $47.56 per share, for a total transaction of $199,752.00. Following the purchase, the director now owns 4,200 shares in the company, valued at approximately $199,752. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of BBT traded down $0.48 during mid-day trading on Friday, hitting $47.66. 5,524,530 shares of the company were exchanged, compared to its average volume of 3,996,180. The company has a market cap of $37.27 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. BB&T Co. has a 1-year low of $45.93 and a 1-year high of $56.31.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts expect that BB&T Co. will post 4.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Friday, November 9th were given a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.40%. The ex-dividend date was Thursday, November 8th. BB&T’s payout ratio is currently 51.59%.
Several analysts have recently issued reports on BBT shares. Zacks Investment Research lowered BB&T from a “buy” rating to a “hold” rating in a report on Friday, October 12th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, BMO Capital Markets reduced their price objective on BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. BB&T currently has a consensus rating of “Buy” and an average target price of $55.44.
Several large investors have recently modified their holdings of BBT. Cornerstone Wealth Management LLC acquired a new position in BB&T during the second quarter worth about $382,000. Dupont Capital Management Corp grew its stake in BB&T by 56.3% during the second quarter. Dupont Capital Management Corp now owns 6,951 shares of the insurance provider’s stock worth $351,000 after buying an additional 2,505 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of BB&T by 8,443.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,528 shares of the insurance provider’s stock valued at $228,000 after purchasing an additional 4,475 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of BB&T in the second quarter valued at $6,797,000. Finally, Victory Capital Management Inc. boosted its stake in BB&T by 10.8% during the 2nd quarter. Victory Capital Management Inc. now owns 82,695 shares of the insurance provider’s stock valued at $4,171,000 after acquiring an additional 8,063 shares during the last quarter. 64.07% of the stock is currently owned by institutional investors and hedge funds.
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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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