Signaturefd LLC boosted its position in shares of BB&T Corporation (NYSE:BBT) by 23.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,542 shares of the insurance provider’s stock after buying an additional 1,799 shares during the period. Signaturefd LLC’s holdings in BB&T Corporation were worth $427,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Jolley Asset Management LLC raised its stake in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock worth $135,000 after buying an additional 79 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares in the last quarter. Pathstone Family Office LLC bought a new stake in shares of BB&T Corporation during the first quarter worth approximately $150,000. Finally, Welch Group LLC bought a new stake in shares of BB&T Corporation during the first quarter worth approximately $151,000. 64.23% of the stock is owned by institutional investors and hedge funds.
Shares of BB&T Corporation (NYSE:BBT) opened at 44.76 on Thursday. The firm’s 50 day moving average price is $44.21 and its 200 day moving average price is $45.08. The stock has a market cap of $36.32 billion, a P/E ratio of 17.49 and a beta of 1.06. BB&T Corporation has a 52-week low of $36.19 and a 52-week high of $49.88.
BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, April 20th. The insurance provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.80 billion. BB&T Corporation had a net margin of 19.06% and a return on equity of 9.49%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. On average, analysts expect that BB&T Corporation will post $2.84 EPS for the current year.
BB&T Corporation declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
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Several equities analysts have recently issued reports on BBT shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $50.00 target price on shares of BB&T Corporation in a report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Wednesday, April 5th. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. Finally, Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and reduced their target price for the company from $51.00 to $49.00 in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. BB&T Corporation presently has a consensus rating of “Hold” and an average target price of $47.21.
In other news, insider Clarke R. Starnes III sold 53,594 shares of BB&T Corporation stock in a transaction on Friday, April 21st. The shares were sold at an average price of $43.37, for a total transaction of $2,324,371.78. Following the transaction, the insider now owns 131,350 shares in the company, valued at approximately $5,696,649.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.36% of the company’s stock.
BB&T Corporation Company 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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