Texan Capital Management trimmed its holdings in shares of BB&T Co. (NYSE:BBT) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,434 shares of the insurance provider’s stock after selling 1,900 shares during the period. Texan Capital Management’s holdings in BB&T were worth $1,961,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. First Eagle Investment Management LLC raised its position in BB&T by 3.3% during the third quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock valued at $783,870,000 after buying an additional 541,257 shares during the period. Bank of New York Mellon Corp raised its position in BB&T by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock valued at $414,436,000 after buying an additional 86,200 shares during the period. Burgundy Asset Management Ltd. raised its position in BB&T by 0.3% during the third quarter. Burgundy Asset Management Ltd. now owns 8,382,444 shares of the insurance provider’s stock valued at $393,472,000 after buying an additional 27,138 shares during the period. American Century Companies Inc. raised its position in BB&T by 12.6% during the third quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock valued at $381,012,000 after buying an additional 910,225 shares during the period. Finally, Boston Partners raised its position in BB&T by 0.9% during the fourth quarter. Boston Partners now owns 5,957,183 shares of the insurance provider’s stock valued at $296,191,000 after buying an additional 55,665 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on BBT shares. Citigroup reaffirmed a “neutral” rating and issued a $49.00 target price (up from $47.00) on shares of BB&T in a research report on Monday, October 9th. Zacks Investment Research lowered BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $50.00 target price on shares of BB&T in a research report on Thursday, October 12th. Oppenheimer reaffirmed a “hold” rating on shares of BB&T in a research report on Friday, October 20th. Finally, FBR & Co set a $48.00 target price on BB&T and gave the stock a “hold” rating in a research report on Friday, October 20th. Sixteen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.24.
In related news, insider Christopher L. Henson sold 48,524 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $54.75, for a total transaction of $2,656,689.00. Following the completion of the transaction, the insider now owns 180,089 shares in the company, valued at approximately $9,859,872.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Louis B. Lynn sold 3,646 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $54.63, for a total value of $199,180.98. The disclosure for this sale can be found here. Insiders sold a total of 131,898 shares of company stock valued at $7,128,459 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
Shares of BB&T Co. (NYSE:BBT) opened at $55.11 on Monday. BB&T Co. has a 52 week low of $41.17 and a 52 week high of $55.99. The firm has a market capitalization of $43,096.35, a P/E ratio of 17.55, a P/E/G ratio of 1.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The firm had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. equities analysts forecast that BB&T Co. will post 3.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.40%. BB&T’s dividend payout ratio is currently 48.18%.
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BB&T 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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