Abner Herrman & Brock LLC Trims Position in BB&T Co. (BBT)

Abner Herrman & Brock LLC lessened its holdings in BB&T Co. (NYSE:BBT) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,206 shares of the insurance provider’s stock after selling 4,237 shares during the period. Abner Herrman & Brock LLC’s holdings in BB&T were worth $1,568,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMS Capital Management bought a new stake in BB&T in the third quarter worth $39,000. Cornerstone Advisors Inc. increased its position in BB&T by 19.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 240 shares during the last quarter. Zions Bancorporation bought a new position in BB&T during the third quarter valued at $102,000. Girard Partners LTD. bought a new position in BB&T during the third quarter valued at $142,000. Finally, SRS Capital Advisors Inc. increased its position in BB&T by 4,311.8% during the third quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 2,932 shares during the last quarter. Institutional investors own 63.98% of the company’s stock.

In other news, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total transaction of $30,244.50. Following the completion of the sale, the director now directly owns 4,375 shares of the company’s stock, valued at $216,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick C. Graney III bought 4,200 shares of the stock in a transaction dated Thursday, December 6th. The shares were bought at an average cost of $47.56 per share, with a total value of $199,752.00. Following the completion of the purchase, the director now directly owns 4,200 shares of the company’s stock, valued at approximately $199,752. The disclosure for this purchase can be found here. 0.51% of the stock is currently owned by insiders.

BBT has been the topic of a number of analyst reports. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, October 3rd. B. Riley set a $56.00 price objective on shares of BB&T and gave the company a “buy” rating in a research report on Monday, October 15th. Finally, BMO Capital Markets cut their price objective on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. BB&T currently has a consensus rating of “Hold” and an average price target of $55.15.

Shares of BBT traded down $0.22 during trading hours on Friday, reaching $45.64. 356,508 shares of the company traded hands, compared to its average volume of 4,588,333. The firm has a market capitalization of $35.56 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.00 and a beta of 1.04. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $56.31. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. Analysts predict that BB&T Co. will post 4.05 earnings per share for the current year.

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BB&T Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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

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