Insider Selling: BB&T Corp. VP Sells 45,585 Shares of Stock (BBT)
BB&T Corp. (NYSE:BBT) VP Steven B. Wiggs sold 45,585 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $37.60, for a total value of $1,713,996.00. Following the transaction, the vice president now directly owns 73,804 shares of the company’s stock, valued at approximately $2,775,030. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
BB&T Corp. (NYSE:BBT) traded up 0.59% during mid-day trading on Wednesday, hitting $37.64. 2,379,879 shares of the company’s stock traded hands. BB&T Corp. has a 52-week low of $32.65 and a 52-week high of $41.04. The stock’s 50-day moving average is $38.88 and its 200-day moving average is $38.41. The company has a market cap of $27.085 billion and a price-to-earnings ratio of 15.59.
BB&T Corp. (NYSE:BBT) last released its earnings data on Monday, July 21st. The company reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.04. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company posted $0.77 earnings per share. BB&T Corp.’s revenue was down 7.9% compared to the same quarter last year. Analysts expect that BB&T Corp. will post $2.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Shareholders of record on Friday, August 8th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, August 6th.
A number of research firms have recently commented on BBT. Analysts at Jefferies Group reiterated a “hold” rating on shares of BB&T Corp. in a research note on Tuesday, July 22nd. They now have a $41.00 price target on the stock, down previously from $42.00. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of BB&T Corp. in a research note on Tuesday, July 22nd. They now have a $43.00 price target on the stock, down previously from $44.00. Finally, analysts at Credit Agricole upgraded shares of BB&T Corp. from a “sell” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $33.00 price target on the stock, down previously from $45.00. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.95.
BB&T Corporation (NYSE:BBT) is a financial holding company.
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