BB&T (NYSE:BBT) had its price objective raised by research analysts at BMO Capital Markets to $64.00 in a report released on Friday, The Fly reports. The firm presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 18.21% from the stock’s current price.
BBT has been the subject of a number of other research reports. Zacks Investment Research lowered BB&T from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Oppenheimer reiterated a “hold” rating on shares of BB&T in a report on Thursday. UBS Group upgraded BB&T from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 9th. Stephens upgraded BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, October 5th. Finally, JPMorgan Chase & Co. boosted their price target on BB&T from $48.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. BB&T has a consensus rating of “Hold” and a consensus target price of $53.75.
Shares of BB&T (NYSE:BBT) opened at $54.14 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $42,710.00, a P/E ratio of 19.76, a P/E/G ratio of 1.61 and a beta of 1.00. BB&T has a twelve month low of $41.17 and a twelve month high of $55.70.
In other news, insider Robert Jerome Johnson, Jr. sold 12,357 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $47.70, for a total transaction of $589,428.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Donna C. Goodrich sold 10,799 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total value of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares in the company, valued at $2,206,702.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,295 shares of company stock valued at $3,347,679. 0.36% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of BBT. Assetmark acquired a new position in shares of BB&T in the 3rd quarter valued at $0. FTB Advisors Inc. increased its position in shares of BB&T by 18.4% in the 3rd quarter. FTB Advisors Inc. now owns 2,788 shares of the insurance provider’s stock valued at $105,000 after acquiring an additional 434 shares during the period. Integrated Investment Consultants LLC increased its position in shares of BB&T by 13.0% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,989 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 344 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of BB&T in the 2nd quarter valued at $111,000. Finally, Jolley Asset Management LLC increased its position in shares of BB&T by 1.0% in the 1st quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock valued at $112,000 after acquiring an additional 25 shares during the period. 65.28% of the stock is currently owned by institutional investors and hedge funds.
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.
