US Bancorp DE boosted its holdings in shares of BB&T Co. (NYSE:BBT) by 0.9% in the first quarter, HoldingsChannel.com reports. The firm owned 395,798 shares of the insurance provider’s stock after buying an additional 3,614 shares during the period. US Bancorp DE’s holdings in BB&T were worth $18,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Worldquant Millennium Quantitative Strategies LLC raised its position in shares of BB&T by 46.0% in the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 41,659 shares of the insurance provider’s stock worth $1,805,000 after acquiring an additional 13,120 shares during the period. Raymond James & Associates raised its position in shares of BB&T by 13.5% in the first quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock worth $114,846,000 after acquiring an additional 292,660 shares during the period. Caxton Associates LP raised its position in shares of BB&T by 60.8% in the fourth quarter. Caxton Associates LP now owns 12,686 shares of the insurance provider’s stock worth $550,000 after acquiring an additional 4,795 shares during the period. Covington Capital Management acquired a new position in shares of BB&T in the fourth quarter worth about $51,000. Finally, Rowland & Co. Investment Counsel ADV raised its position in shares of BB&T by 2.1% in the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 120,516 shares of the insurance provider’s stock worth $5,221,000 after acquiring an additional 2,427 shares during the period. Institutional investors own 67.65% of the company’s stock.
Shares of NYSE:BBT traded up $0.05 during mid-day trading on Friday, reaching $48.16. 101,861 shares of the company were exchanged, compared to its average volume of 4,633,304. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market capitalization of $37.03 billion, a P/E ratio of 11.91, a PEG ratio of 1.20 and a beta of 1.16. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $55.65.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts forecast that BB&T Co. will post 4.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Tuesday, May 14th. BB&T’s payout ratio is currently 40.00%.
In related news, insider Donta L. Wilson sold 3,418 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the sale, the insider now directly owns 14,911 shares in the company, valued at $733,024.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Cynthia B. Powell sold 2,651 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total transaction of $130,482.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,358 shares of company stock valued at $416,417. 0.49% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on BBT. Morgan Stanley decreased their price objective on shares of BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. FIG Partners upgraded 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 report on Friday, February 8th. Raymond James downgraded shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price objective for the company. in a research report on Thursday, April 4th. Finally, Deutsche Bank upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Monday, March 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.49.
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BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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