National Asset Management Inc. raised its holdings in BB&T Corporation (NYSE:BBT) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,262 shares of the insurance provider’s stock after acquiring an additional 284 shares during the quarter. National Asset Management Inc.’s holdings in BB&T Corporation were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of BBT. Signature Estate & Investment Advisors LLC acquired a new stake in BB&T Corporation in the 2nd quarter valued at about $111,000. Community Bank N.A. lifted its holdings in BB&T Corporation by 6.2% in the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 144 shares during the last quarter. Liberty Capital Management Inc. acquired a new stake in BB&T Corporation in the 2nd quarter valued at about $136,000. Guardian Life Insurance Co. of America lifted its holdings in BB&T Corporation by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in BB&T Corporation by 51.1% in the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after acquiring an additional 1,045 shares during the last quarter. 64.25% of the stock is owned by institutional investors.
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Shares of BB&T Corporation (NYSE:BBT) traded up 0.139% during trading on Friday, hitting $46.915. The stock had a trading volume of 1,116,948 shares. The firm has a 50 day moving average of $45.80 and a 200 day moving average of $44.86. BB&T Corporation has a 1-year low of $37.40 and a 1-year high of $49.88. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 17.512 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business posted $0.71 EPS. BB&T Corporation’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that BB&T Corporation will post $2.81 EPS for the current fiscal year.
BB&T Corporation announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. Insiders have sold a total of 55,610 shares of company stock worth $2,618,364 in the last quarter. 0.36% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on BBT. BMO Capital Markets reissued a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a report on Friday, July 21st. BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $50.00 price target on shares of BB&T Corporation in a report on Thursday. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Friday, July 21st. Finally, Wells Fargo & Company began coverage on shares of BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 price target for the company. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.00.
BB&T Corporation Profile
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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