Banque Pictet & Cie SA increased its holdings in shares of BB&T (NYSE:BBT) by 857.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,129 shares of the insurance provider’s stock after purchasing an additional 43,996 shares during the quarter. Banque Pictet & Cie SA’s holdings in BB&T were worth $2,557,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of BBT. Bank of Montreal Can increased its position in BB&T by 19.2% during the 4th quarter. Bank of Montreal Can now owns 1,394,876 shares of the insurance provider’s stock worth $69,353,000 after purchasing an additional 224,567 shares in the last quarter. National Pension Service increased its position in BB&T by 2.6% during the 4th quarter. National Pension Service now owns 734,994 shares of the insurance provider’s stock worth $36,544,000 after purchasing an additional 18,334 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in BB&T by 1.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,719,618 shares of the insurance provider’s stock worth $135,220,000 after purchasing an additional 43,576 shares in the last quarter. Carroll Financial Associates Inc. increased its position in BB&T by 2.4% during the 4th quarter. Carroll Financial Associates Inc. now owns 169,821 shares of the insurance provider’s stock worth $8,443,000 after purchasing an additional 3,905 shares in the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in BB&T during the 4th quarter worth approximately $4,321,000. 63.56% of the stock is owned by hedge funds and other institutional investors.
BBT has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of BB&T in a research report on Monday, April 23rd. Oppenheimer reissued a “hold” rating on shares of BB&T in a research report on Thursday, January 18th. Wells Fargo raised shares of BB&T from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Tuesday, March 27th. Edward Jones raised shares of BB&T from a “hold” rating to a “buy” rating in a research report on Wednesday, April 11th. Finally, B. Riley raised shares of BB&T from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $59.00 in a research report on Tuesday, March 27th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.48.
NYSE BBT opened at $55.43 on Friday. The company has a market capitalization of $43.27 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.22 and a beta of 1.05. BB&T has a fifty-two week low of $54.92 and a fifty-two week high of $55.39. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.86.
BB&T (NYSE:BBT) last released its earnings results on Thursday, April 19th. The insurance provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a return on equity of 10.38% and a net margin of 21.63%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. sell-side analysts forecast that BB&T will post 4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be paid a dividend of $0.375 per share. This is a boost from BB&T’s previous quarterly dividend of $0.33. This represents a $1.50 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, May 10th. BB&T’s dividend payout ratio is 47.77%.
In other news, Director K. David Jr. Boyer sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $55.03, for a total transaction of $137,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clarke R. Starnes III sold 22,629 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.40, for a total value of $1,253,646.60. Following the transaction, the insider now owns 107,933 shares of the company’s stock, valued at $5,979,488.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 316,048 shares of company stock valued at $17,014,541. Company insiders own 0.51% of the company’s stock.
BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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