BB&T Corporation (BBT) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its position in shares of BB&T Corporation (NYSE:BBT) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,888 shares of the insurance provider’s stock after buying an additional 459 shares during the period. BB&T Corporation accounts for approximately 1.5% of Salem Investment Counselors Inc.’s portfolio, making the stock its 16th largest position. Salem Investment Counselors Inc.’s holdings in BB&T Corporation were worth $14,297,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Janus Capital Management LLC increased its position in BB&T Corporation by 46.8% in the first 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. Altavista Wealth Management Inc. increased its position in BB&T Corporation by 2.5% in the first quarter. Altavista Wealth Management Inc. now owns 10,188 shares of the insurance provider’s stock valued at $455,000 after buying an additional 245 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in BB&T Corporation by 10.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 30,563 shares of the insurance provider’s stock valued at $1,366,000 after buying an additional 2,963 shares during the period. HighTower Advisors LLC increased its position in BB&T Corporation by 4.8% in the first quarter. HighTower Advisors LLC now owns 250,107 shares of the insurance provider’s stock valued at $11,172,000 after buying an additional 11,424 shares during the period. Finally, Family Management Corp increased its position in BB&T Corporation by 0.5% in the first quarter. Family Management Corp now owns 44,338 shares of the insurance provider’s stock valued at $1,982,000 after buying an additional 213 shares during the period. 64.46% of the stock is currently owned by institutional investors and hedge funds.

BB&T Corporation (NYSE:BBT) traded down 0.09% during mid-day trading on Friday, reaching $46.12. 4,394,869 shares of the company traded hands. The firm has a market capitalization of $37.27 billion, a P/E ratio of 17.22 and a beta of 1.07. BB&T Corporation has a 12-month low of $36.75 and a 12-month high of $49.88. The company’s 50 day moving average price is $46.45 and its 200 day moving average price is $45.21.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. BB&T Corporation’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Equities research analysts predict that BB&T Corporation will post $2.84 EPS for the current year.

BB&T Corporation declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio is 49.25%.

Several research analysts have commented on the stock. BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Wells Fargo & Company initiated coverage on shares of 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. Macquarie upgraded shares of 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. FBR & Co restated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.19.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. Insiders sold a total of 55,610 shares of company stock worth $2,618,364 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.

About BB&T Corporation

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.