FinTrust Capital Advisors LLC lessened its holdings in BB&T Co. (NYSE:BBT) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,492 shares of the insurance provider’s stock after selling 830 shares during the quarter. BB&T makes up 2.9% of FinTrust Capital Advisors LLC’s holdings, making the stock its 6th largest holding. FinTrust Capital Advisors LLC’s holdings in BB&T were worth $7,295,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of BB&T by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after purchasing an additional 590,366 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of BB&T in the 1st quarter valued at $30,000. First Manhattan Co. boosted its stake in shares of BB&T by 3.2% in the 1st quarter. First Manhattan Co. now owns 10,035 shares of the insurance provider’s stock valued at $466,000 after purchasing an additional 311 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of BB&T by 165.0% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,365 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 850 shares during the last quarter. Finally, Nwam LLC bought a new stake in shares of BB&T in the 1st quarter valued at $210,000. 67.93% of the stock is currently owned by institutional investors.
Shares of BB&T stock traded up $0.29 during trading on Thursday, reaching $45.53. 251,542 shares of the company traded hands, compared to its average volume of 4,621,313. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $53.08. The company has a 50 day moving average price of $49.46. The company has a market cap of $35.72 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.18 and a beta of 1.12.
BB&T (NYSE:BBT) last released its earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company earned $1.01 EPS. BB&T’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts forecast that BB&T Co. will post 4.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 annualized dividend and a yield of 3.95%. BB&T’s payout ratio is 40.00%.
In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.
A number of equities research analysts have recently commented on BBT shares. Morgan Stanley set a $51.00 price objective on shares of BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank set a $59.00 price objective on shares of BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, UBS Group dropped their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.86.
BB&T Company 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.
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