OppenheimerFunds Inc. lessened its holdings in BB&T Co. (NYSE:BBT) by 29.0% during the 1st quarter, Holdings Channel reports. The firm owned 557,574 shares of the insurance provider’s stock after selling 227,608 shares during the period. OppenheimerFunds Inc.’s holdings in BB&T were worth $25,943,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Sontag Advisory LLC acquired a new stake in shares of BB&T in the 4th quarter valued at approximately $28,000. Athena Capital Advisors LLC acquired a new stake in shares of BB&T in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new stake in shares of BB&T in the 1st quarter valued at approximately $30,000. Destination Wealth Management raised its position in shares of BB&T by 375.0% in the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 570 shares during the period. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of BB&T in the 4th quarter valued at approximately $35,000. 68.06% of the stock is currently owned by institutional investors.
Shares of BBT stock opened at $49.73 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.22 and a beta of 1.16. BB&T Co. has a 52 week low of $40.68 and a 52 week high of $54.04.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, April 18th. The insurance provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the company posted $0.94 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that BB&T Co. will post 4.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.405 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.26%. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
In other news, insider Donta L. Wilson sold 3,418 shares of BB&T stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $49.16, for a total value of $168,028.88. Following the sale, the insider now directly owns 14,911 shares in the company, valued at $733,024.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Louis B. Lynn sold 2,500 shares of BB&T stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total transaction of $120,825.00. The disclosure for this sale can be found here. Insiders sold 8,569 shares of company stock worth $419,336 over the last quarter. 0.49% of the stock is owned by corporate insiders.
Several brokerages have commented on BBT. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Deutsche Bank upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Monday, March 25th. Raymond James downgraded shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price on the stock. in a report on Thursday, April 4th. Stephens downgraded shares of BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Finally, Morgan Stanley dropped their target price on shares of BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.49.
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BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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