CIBC Private Wealth Group LLC Sells 5,990 Shares of BB&T Co. (BBT)

CIBC Private Wealth Group LLC cut its holdings in BB&T Co. (NYSE:BBT) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,165 shares of the insurance provider’s stock after selling 5,990 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in BB&T were worth $7,847,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in BB&T by 1.6% during the third quarter. Vanguard Group Inc. now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after buying an additional 939,154 shares during the period. Vanguard Group Inc boosted its stake in BB&T by 1.6% during the third quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after buying an additional 939,154 shares during the period. BlackRock Inc. boosted its stake in BB&T by 0.3% during the third quarter. BlackRock Inc. now owns 49,492,995 shares of the insurance provider’s stock worth $2,402,389,000 after buying an additional 144,773 shares during the period. Macquarie Group Ltd. boosted its stake in BB&T by 6.8% during the third quarter. Macquarie Group Ltd. now owns 14,406,134 shares of the insurance provider’s stock worth $699,273,000 after buying an additional 920,792 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in BB&T by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock worth $527,666,000 after buying an additional 547,692 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Patrick C. Graney III bought 4,200 shares of the stock in a transaction dated Thursday, December 6th. The stock was purchased at an average cost of $47.56 per share, with a total value of $199,752.00. Following the completion of the purchase, the director now owns 4,200 shares of the company’s stock, valued at $199,752. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.51% of the stock is currently owned by insiders.

Shares of BBT opened at $50.46 on Thursday. The firm has a market cap of $39.20 billion, a PE ratio of 12.46, a P/E/G ratio of 1.09 and a beta of 1.12. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $56.31. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.87.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.01. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.98 billion. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Analysts predict that BB&T Co. will post 4.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 13th will be paid a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, February 12th. BB&T’s dividend payout ratio is currently 40.00%.

Several research firms have commented on BBT. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered shares of BB&T from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. FIG Partners raised shares of BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Friday, February 8th. BMO Capital Markets lifted their price objective on shares of BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Bank of America raised shares of BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective for the company in a research note on Friday, February 8th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BB&T has an average rating of “Buy” and an average target price of $53.96.

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About BB&T

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.

Further Reading: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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