Heritage Trust Co lessened its position in BB&T Co. (NYSE:BBT) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,051 shares of the insurance provider’s stock after selling 2,841 shares during the quarter. Heritage Trust Co’s holdings in BB&T were worth $1,864,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. IMS Capital Management acquired a new position in shares of BB&T during the 3rd quarter worth approximately $39,000. Cornerstone Advisors Inc. increased its position in shares of BB&T by 19.5% during the 3rd quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 240 shares during the last quarter. Zions Bancorporation acquired a new position in shares of BB&T during the 3rd quarter worth approximately $102,000. Girard Partners LTD. acquired a new position in shares of BB&T during the 3rd quarter worth approximately $142,000. Finally, SRS Capital Advisors Inc. increased its position in shares of BB&T by 4,311.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 2,932 shares during the last quarter. 63.97% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on BBT shares. Bank of America lowered BB&T from a “buy” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research report on Thursday, January 10th. They noted that the move was a valuation call. ValuEngine downgraded BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded BB&T from a “buy” rating to a “hold” rating in a research note on Monday, December 10th. Barclays lifted their target price on BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 2nd. Finally, BMO Capital Markets reduced their target price 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. BB&T presently has an average rating of “Hold” and a consensus target price of $53.73.
BBT opened at $49.29 on Friday. The firm has a market capitalization of $37.98 billion, a P/E ratio of 12.17, a PEG ratio of 1.07 and a beta of 1.04. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $56.31. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.87.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, January 17th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.98 billion. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, research analysts expect that BB&T Co. will post 4.34 EPS for the current fiscal year.
In other BB&T news, Director Nido R. Qubein sold 2,825 shares of BB&T stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $50.19, for a total value of $141,786.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick C. Graney III acquired 4,200 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was bought at an average cost of $47.56 per share, with a total value of $199,752.00. Following the completion of the acquisition, the director now directly owns 4,200 shares in the company, valued at $199,752. The disclosure for this purchase can be found here. 0.51% of the stock is owned by insiders.
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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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