Pettyjohn Wood & White Inc. lessened its stake in shares of BB&T Co. (NYSE:BBT) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,639 shares of the insurance provider’s stock after selling 1,632 shares during the period. Pettyjohn Wood & White Inc.’s holdings in BB&T were worth $4,011,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in BB&T by 10.7% during the 1st quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock worth $2,761,026,000 after acquiring an additional 5,759,090 shares during the period. Northern Trust Corp increased its stake in BB&T by 1.5% during the 1st quarter. Northern Trust Corp now owns 11,293,602 shares of the insurance provider’s stock worth $525,492,000 after acquiring an additional 163,933 shares during the period. Geode Capital Management LLC increased its stake in BB&T by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock worth $398,655,000 after acquiring an additional 590,366 shares during the period. American Century Companies Inc. increased its stake in shares of BB&T by 0.6% in the 1st quarter. American Century Companies Inc. now owns 9,180,892 shares of the insurance provider’s stock valued at $427,187,000 after purchasing an additional 55,869 shares during the last quarter. Finally, Boston Partners increased its stake in shares of BB&T by 59.9% in the 1st quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock valued at $266,982,000 after purchasing an additional 2,150,335 shares during the last quarter. Hedge funds and other institutional investors own 67.93% of the company’s stock.
Several brokerages have recently issued reports on BBT. JPMorgan Chase & Co. decreased their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. UBS Group decreased their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley set a $51.00 price target on BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. Deutsche Bank set a $59.00 price target on BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.86.
In related news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
Shares of BBT traded up $1.10 during midday trading on Friday, hitting $46.55. The company’s stock had a trading volume of 8,019,600 shares, compared to its average volume of 4,741,233. The stock has a market capitalization of $35.66 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. BB&T Co. has a one year low of $40.68 and a one year high of $53.08. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The company’s fifty day simple moving average is $49.38 and its two-hundred day simple moving average is $49.25.
BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. BB&T’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, research analysts predict that BB&T Co. will post 4.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.87%. BB&T’s dividend payout ratio is currently 44.44%.
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.
Recommended Story: Catch-Up Contributions
Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.