BB&T Corporation (BBT) VP Sells $201,917.50 in Stock
BB&T Corporation (NYSE:BBT) VP Donta L. Wilson sold 4,250 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $47.51, for a total value of $201,917.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of BB&T Corporation (BBT) traded up 0.36% during mid-day trading on Tuesday, reaching $47.58. The company had a trading volume of 4,044,522 shares. The firm has a 50 day moving average of $45.99 and a 200-day moving average of $45.01. BB&T Corporation has a one year low of $38.23 and a one year high of $49.88. The stock has a market capitalization of $38.45 billion, a P/E ratio of 17.76 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. BB&T Corporation’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. Analysts forecast that BB&T Corporation will post $2.78 EPS for the current fiscal year.
BB&T Corporation declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.32 annualized dividend and a yield of 2.77%. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.07%.
Several institutional investors have recently made changes to their positions in BBT. Signature Estate & Investment Advisors LLC purchased a new position in shares of BB&T Corporation in the second quarter valued at about $111,000. Community Bank N.A. lifted its position in shares of BB&T Corporation by 6.2% in the second 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 in the last quarter. Liberty Capital Management Inc. purchased a new position in shares of BB&T Corporation in the second quarter valued at about $136,000. Guardian Life Insurance Co. of America lifted its position in shares of BB&T Corporation by 0.7% in the first 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 in the last quarter. Finally, Oakworth Capital Inc. lifted its position in shares of BB&T Corporation by 51.1% in the second 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 in the last quarter. Institutional investors and hedge funds own 64.28% of the company’s stock.
Several research firms have weighed in on BBT. Piper Jaffray Companies reissued a “hold” rating and issued a $48.00 price objective on shares of BB&T Corporation in a research report on Sunday. Royal Bank Of Canada reissued a “buy” rating and issued a $50.00 price objective on shares of BB&T Corporation in a research report on Friday. BMO Capital Markets boosted their price objective on BB&T Corporation from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Friday. Morgan Stanley boosted their price objective on BB&T Corporation from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, FBR & Co set a $48.00 price target on BB&T Corporation and gave the company a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. BB&T Corporation currently has an average rating of “Hold” and a consensus price target of $49.18.
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.
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