BB&T (NYSE:BBT) has been given a $51.00 target price by research analysts at Wells Fargo & Company in a report released on Wednesday. The firm presently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Company’s target price would indicate a potential upside of 2.33% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut BB&T from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Morgan Stanley increased their price target on BB&T from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 20th. Citigroup reissued a “neutral” rating and issued a $49.00 price target (up previously from $47.00) on shares of BB&T in a research note on Monday, October 9th. SunTrust Banks reissued a “buy” rating and issued a $52.00 price target on shares of BB&T in a research note on Friday, October 20th. Finally, Stephens raised BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. BB&T has a consensus rating of “Hold” and an average price target of $49.67.
Shares of BB&T (NYSE:BBT) traded down $0.19 during midday trading on Wednesday, reaching $49.84. The company’s stock had a trading volume of 2,814,790 shares, compared to its average volume of 4,389,316. BB&T has a 1 year low of $41.17 and a 1 year high of $51.11. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $39,470.00, a price-to-earnings ratio of 16.50, a PEG ratio of 2.30 and a beta of 1.00.
In related news, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $47.53, for a total value of $3,154,661.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donna C. Goodrich sold 10,799 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total value of $505,069.23. Following the completion of the transaction, the insider now owns 47,182 shares of the company’s stock, valued at approximately $2,206,702.14. The disclosure for this sale can be found here. Insiders have sold 182,150 shares of company stock valued at $8,712,859 in the last ninety days. Company insiders own 0.36% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Glassman Wealth Services boosted its position in shares of BB&T by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock valued at $216,000 after purchasing an additional 18 shares during the period. WMS Partners LLC lifted its stake in BB&T by 0.8% in the 2nd quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after acquiring an additional 36 shares in the last quarter. Sii Investments Inc. WI lifted its stake in BB&T by 0.9% in the 2nd quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 58 shares in the last quarter. Schafer Cullen Capital Management Inc. lifted its stake in BB&T by 0.5% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 14,105 shares of the insurance provider’s stock worth $641,000 after acquiring an additional 75 shares in the last quarter. Finally, Sandy Spring Bank lifted its stake in BB&T by 0.8% in the 2nd quarter. Sandy Spring Bank now owns 11,100 shares of the insurance provider’s stock worth $504,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.
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About BB&T
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.
