Perkins Coie Trust Co boosted its position in BB&T Corporation (NYSE:BBT) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,768 shares of the insurance provider’s stock after buying an additional 426 shares during the period. Perkins Coie Trust Co’s holdings in BB&T Corporation were worth $1,397,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Jolley Asset Management LLC boosted 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 valued at $112,000 after buying an additional 25 shares during 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 valued at $140,000 after buying an additional 21 shares during 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 valued at $135,000 after buying an additional 79 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in shares of BB&T Corporation during the first quarter valued at approximately $150,000. Finally, Welch Group LLC acquired a new stake in shares of BB&T Corporation during the first quarter valued at approximately $151,000. 64.46% of the stock is owned by institutional investors and hedge funds.
BB&T Corporation (NYSE BBT) traded down 0.06% on Friday, hitting $46.13. The company’s stock had a trading volume of 1,007,441 shares. The firm has a 50 day moving average of $46.43 and a 200 day moving average of $45.22. BB&T Corporation has a 12 month low of $36.75 and a 12 month high of $49.88. The firm has a market cap of $37.28 billion, a price-to-earnings ratio of 17.22 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, hitting 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Equities research analysts forecast that BB&T Corporation will post $2.84 earnings per share for the current fiscal year.
BB&T Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.33 per share. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 annualized dividend and a yield of 2.86%. BB&T Corporation’s payout ratio is presently 49.25%.
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BBT has been the topic of several research analyst reports. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and dropped their target price for the company from $51.00 to $49.00 in a report on Monday, April 24th. BMO Capital Markets restated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of BB&T Corporation in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $47.19.
In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated 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 accessible through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was 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 directly owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
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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