BB&T (NYSE:BBT) Reaches New 52-Week High After Dividend Announcement

Shares of BB&T Co. (NYSE:BBT) hit a new 52-week high during 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 trading hands. The stock had previously closed at $53.45.

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

BBT has been the subject of several research reports. Wells Fargo & Co set a $55.00 price target on shares of BB&T and gave the stock a “buy” rating in a research note on Friday, August 16th. UBS Group decreased their price target on shares of BB&T from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group raised shares of BB&T from a “hold” rating to a “buy” rating and raised their price target for the stock from $52.00 to $58.00 in a research note on Tuesday, October 8th. Finally, Morgan Stanley set a $51.00 price target on shares of BB&T and gave the stock a “hold” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.50.

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.84. The firm’s 50 day moving average is $51.74 and its two-hundred day moving average is $49.59. The firm has a market capitalization of $40.90 billion, a P/E ratio of 13.20, a PEG ratio of 1.69 and a beta of 1.17.

BB&T (NYSE:BBT) last released its earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.04. BB&T had a net margin of 23.17% and a return on equity of 12.25%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts anticipate that BB&T Co. will post 4.24 EPS for the current fiscal year.

In related news, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction on Sunday, September 1st. The shares were sold at an average price of $25.00, for a total value of $112,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,285 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The disclosure for this sale can be found here. Insiders sold 25,099,147 shares of company stock valued at $714,407,173 over the last three months. 0.49% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in BB&T during the 2nd quarter valued at $26,000. Proffitt & Goodson Inc. lifted its holdings in BB&T by 93.4% during the 3rd quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 283 shares during the last quarter. Capital Bank & Trust Co lifted its holdings in BB&T by 49.6% during the 2nd quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 310 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in BB&T during the 2nd quarter valued at $48,000. Finally, Norway Savings Bank acquired a new stake in BB&T during the 3rd quarter valued at $54,000. 70.11% of the stock is owned by institutional investors and hedge funds.

BB&T Company Profile (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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