BB&T (BBT) Given “Hold” Rating at Robert W. Baird
BB&T (NYSE:BBT)‘s stock had its “hold” rating reaffirmed by analysts at Robert W. Baird in a research report issued on Wednesday. They presently have a $50.00 target price on the insurance provider’s stock. Robert W. Baird’s target price suggests a potential upside of 0.16% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. SunTrust Banks reiterated a “buy” rating and set a $52.00 price objective on shares of BB&T in a research report on Friday, October 20th. Royal Bank of Canada reiterated a “buy” rating and set a $50.00 price objective on shares of BB&T in a research report on Friday, October 20th. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday. Barclays lifted their price objective on BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Jefferies Group reiterated a “hold” rating and set a $49.00 price objective on shares of BB&T in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. BB&T presently has an average rating of “Hold” and an average target price of $50.67.
Shares of BB&T (NYSE BBT) traded up $0.20 during mid-day trading on Wednesday, hitting $49.92. The stock had a trading volume of 2,503,400 shares, compared to its average volume of 2,564,800. The stock has a market capitalization of $39,380.00, a PE ratio of 18.56, a P/E/G ratio of 2.06 and a beta of 1.00. BB&T has a twelve month low of $41.17 and a twelve month high of $51.11. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78.
In related news, VP Donta L. Wilson sold 4,250 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $47.51, for a total transaction of $201,917.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP W Bennett Bradley sold 7,762 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $48.16, for a total value of $373,817.92. Following the transaction, the executive vice president now directly owns 24,341 shares in the company, valued at $1,172,262.56. The disclosure for this sale can be found here. Insiders sold a total of 182,150 shares of company stock worth $8,712,859 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of BB&T by 2,875.1% in the 1st quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after purchasing an additional 45,740,906 shares in the last quarter. Dodge & Cox acquired a new position in shares of BB&T in the 4th quarter valued at approximately $996,945,000. Massachusetts Financial Services Co. MA raised its position in shares of BB&T by 268.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,171,203 shares of the insurance provider’s stock valued at $384,573,000 after purchasing an additional 7,408,128 shares in the last quarter. Norges Bank acquired a new position in shares of BB&T in the 4th quarter valued at approximately $266,182,000. Finally, Boston Partners raised its position in shares of BB&T by 75.2% in the 3rd quarter. Boston Partners now owns 12,192,529 shares of the insurance provider’s stock valued at $459,902,000 after purchasing an additional 5,232,474 shares in the last quarter. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
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BB&T 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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