US Bancorp DE Boosts Position in BB&T Co. (BBT)

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.

TRADEMARK VIOLATION NOTICE: This article was reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.thestockobserver.com/2019/05/24/us-bancorp-de-boosts-position-in-bbt-co-bbt.html.

BB&T Profile

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.

Read More: Do investors pay a separate front-end load every time they buy additional shares?

Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).

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

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.