BB&T Corporation (NYSE:BBT) insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The sale was disclosed in a legal filing with the SEC, which is available through this link.
BB&T Corporation (BBT) traded up 1.10% during mid-day trading on Tuesday, reaching $48.69. The company had a trading volume of 1,142,602 shares. BB&T Corporation has a 52 week low of $36.45 and a 52 week high of $49.88. The stock has a 50 day moving average of $45.29 and a 200 day moving average of $45.09. The stock has a market capitalization of $39.35 billion, a price-to-earnings ratio of 18.17 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts anticipate that BB&T Corporation will post $2.83 earnings per share for the current year.
BB&T Corporation declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.74%. BB&T Corporation’s dividend payout ratio (DPR) is presently 44.78%.
Institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in BB&T Corporation by 1.1% in the fourth quarter. FMR LLC now owns 465,107 shares of the insurance provider’s stock worth $21,870,000 after buying an additional 5,125 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in BB&T Corporation during the fourth quarter worth approximately $4,670,000. Wealthfront Inc. increased its stake in BB&T Corporation by 8.8% in the fourth quarter. Wealthfront Inc. now owns 16,646 shares of the insurance provider’s stock worth $783,000 after buying an additional 1,343 shares in the last quarter. Teachers Advisors LLC increased its stake in BB&T Corporation by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 1,486,643 shares of the insurance provider’s stock worth $69,902,000 after buying an additional 124,713 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in BB&T Corporation during the fourth quarter worth approximately $2,769,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.
Several equities analysts have recently issued reports on BBT shares. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. FBR & Co reiterated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a report on Friday, July 14th. Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating in a research note on Friday. Finally, Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and cut their price target for the company from $51.00 to $49.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. BB&T Corporation has an average rating of “Hold” and an average price target of $47.43.
About BB&T Corporation
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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