FCG Advisors LLC maintained its position in shares of BB&T Corporation (NYSE:BBT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,778 shares of the insurance provider’s stock at the end of the 2nd quarter. FCG Advisors LLC’s holdings in BB&T Corporation were worth $399,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in BB&T Corporation by 2,875.1% during the 1st quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after purchasing an additional 45,740,906 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of BB&T Corporation by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the period. Janus Capital Management LLC lifted its holdings in shares of BB&T Corporation by 46.8% during the 1st quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after buying an additional 1,062,590 shares during the period. FMR LLC lifted its holdings in shares of BB&T Corporation by 214.8% during the 1st quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after buying an additional 998,898 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of BB&T Corporation by 143.2% during the 1st quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock valued at $73,405,000 after buying an additional 966,962 shares during the period. Institutional investors own 64.25% of the company’s stock.
In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The disclosure for this sale can be found here. In the last three months, insiders sold 55,610 shares of company stock valued at $2,618,364. Company insiders own 0.36% of the company’s stock.
A number of equities analysts recently commented on BBT shares. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Wells Fargo & Company started coverage on BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, September 15th. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a report on Friday, August 4th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $47.06.
Shares of BB&T Corporation (NYSE:BBT) opened at 45.22 on Friday. The company has a market cap of $36.54 billion, a P/E ratio of 18.38 and a beta of 1.08. The firm has a 50-day moving average of $46.08 and a 200 day moving average of $44.85. BB&T Corporation has a 52 week low of $36.80 and a 52 week high of $49.88.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts expect that BB&T Corporation will post $2.81 EPS for the current fiscal year.
BB&T Corporation announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Wednesday, August 9th. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s payout ratio is currently 49.25%.
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BB&T Corporation Profile
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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