BB&T (NYSE:BBT) Hits New 12-Month High After Dividend Announcement

BB&T Co. (NYSE:BBT) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $53.95 and last traded at $53.79, with a volume of 165496 shares. The stock had previously closed at $53.45.

The newly announced dividend which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.37%. BB&T’s payout ratio is 44.44%.

Several equities analysts recently commented on the company. Wells Fargo & Co set a $55.00 target price on BB&T and gave the stock a “buy” rating in a research report on Friday, August 16th. UBS Group reduced their target price on BB&T from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday. Bank of America boosted their target price on BB&T from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley set a $51.00 target price on BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Deutsche Bank set a $59.00 target price on BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.50.

The business has a fifty day moving average price of $51.86 and a 200-day moving average price of $49.62. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $40.95 billion, a PE ratio of 13.21, a PEG ratio of 1.72 and a beta of 1.17.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.04. BB&T had a return on equity of 12.25% and a net margin of 23.17%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that BB&T Co. will post 4.24 earnings per share for the current fiscal year.

In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director Nido R. Qubein sold 4,500 shares of the company’s stock in a transaction dated Sunday, September 1st. The stock was sold at an average price of $25.00, for a total value of $112,500.00. The disclosure for this sale can be found here. Insiders sold a total of 25,077,442 shares of company stock valued at $713,290,667 over the last quarter. Company insiders own 0.49% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBT. FMR LLC lifted its stake in shares of BB&T by 7.3% in the 1st quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock valued at $16,284,000 after acquiring an additional 23,680 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in shares of BB&T by 14.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,248,444 shares of the insurance provider’s stock valued at $58,091,000 after acquiring an additional 159,715 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of BB&T by 5.4% in the 2nd quarter. Fulton Bank N.A. now owns 9,854 shares of the insurance provider’s stock valued at $485,000 after acquiring an additional 509 shares during the last quarter. OLD Point Trust & Financial Services N A lifted its stake in shares of BB&T by 3.3% in the 2nd quarter. OLD Point Trust & Financial Services N A now owns 73,252 shares of the insurance provider’s stock valued at $3,599,000 after acquiring an additional 2,350 shares during the last quarter. Finally, Rockland Trust Co. lifted its stake in shares of BB&T by 21.0% in the 2nd quarter. Rockland Trust Co. now owns 6,652 shares of the insurance provider’s stock valued at $327,000 after acquiring an additional 1,156 shares during the last quarter. 70.11% of the stock is owned by institutional investors.

About BB&T (NYSE:BBT)

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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