Carnegie Capital Asset Management LLC Invests $422,000 in BB&T Co. (NYSE:BBT)

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Carnegie Capital Asset Management LLC bought a new stake in BB&T Co. (NYSE:BBT) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 8,143 shares of the insurance provider’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of BB&T by 19.2% in the 2nd quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after buying an additional 81,234 shares during the period. Unigestion Holding SA acquired a new stake in shares of BB&T in the 2nd quarter valued at about $17,754,000. Ferguson Wellman Capital Management Inc. grew its stake in shares of BB&T by 3.1% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 304,053 shares of the insurance provider’s stock valued at $15,336,000 after buying an additional 9,097 shares during the period. Strs Ohio grew its stake in shares of BB&T by 3.3% in the 2nd quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after buying an additional 29,812 shares during the period. Finally, Cypress Capital Group grew its stake in shares of BB&T by 62.7% in the 2nd quarter. Cypress Capital Group now owns 10,225 shares of the insurance provider’s stock valued at $516,000 after buying an additional 3,940 shares during the period. Institutional investors own 64.65% of the company’s stock.

In other BB&T news, insider Donta L. Wilson sold 3,018 shares of BB&T stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the transaction, the insider now owns 14,911 shares of the company’s stock, valued at approximately $768,662.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is owned by company insiders.

Shares of BB&T stock traded down $0.56 during mid-day trading on Friday, hitting $46.88. 5,666,833 shares of the stock were exchanged, compared to its average volume of 3,738,834. BB&T Co. has a 12 month low of $44.62 and a 12 month high of $56.31. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The stock has a market cap of $37.59 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.04 and a beta of 1.05.

BB&T (NYSE:BBT) last posted its earnings results on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.02). BB&T had a return on equity of 11.02% and a net margin of 22.53%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business earned $0.77 EPS. BB&T’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that BB&T Co. will post 4 EPS for the current year.

BBT has been the subject of several research reports. BMO Capital Markets restated a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Thursday, July 12th. B. Riley cut their price target on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. FIG Partners downgraded BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Wednesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $52.00 price target on shares of BB&T in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. BB&T has a consensus rating of “Buy” and a consensus price target of $54.63.

About BB&T

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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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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