Cullen Capital Management LLC Maintains Stake in BB&T Corporation (BBT)

Cullen Capital Management LLC continued to hold its stake in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,850 shares of the insurance provider’s stock at the end of the second quarter. Cullen Capital Management LLC’s holdings in BB&T Corporation were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Glassman Wealth Services raised its holdings in BB&T Corporation by 0.4% during the second quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after purchasing an additional 18 shares in the last quarter. Guardian Life Insurance Co. of America raised its holdings in BB&T Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after purchasing an additional 21 shares in the last quarter. WMS Partners LLC raised its holdings in BB&T Corporation by 0.8% during the second quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 36 shares in the last quarter. Canal Capital Management LLC raised its holdings in BB&T Corporation by 0.6% during the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after purchasing an additional 48 shares in the last quarter. Finally, Sii Investments Inc. WI raised its holdings in BB&T Corporation by 0.9% during the second quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the transaction, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,610 shares of company stock worth $2,618,364. Company insiders own 0.36% of the company’s stock.

BB&T Corporation (NYSE:BBT) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Zacks’ 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 the consensus estimate of $2.89 billion. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year.

BB&T Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of analysts have weighed in on BBT shares. SunTrust Banks, Inc. reissued a “buy” rating and set a $50.00 price objective on shares of BB&T Corporation in a report on Thursday. Wells Fargo & Company started coverage on shares of BB&T Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price objective on the stock. Zacks Investment Research cut shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub cut shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a report on Friday, September 15th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.00.

BB&T Corporation Company 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.

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

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