Raymond James & Associates increased its stake in BB&T Co. (NYSE:BBT) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,082,589 shares of the insurance provider’s stock after purchasing an additional 43,982 shares during the period. Raymond James & Associates owned 0.27% of BB&T worth $103,546,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Delpha Capital Management LLC bought a new stake in shares of BB&T during the 4th quarter valued at $106,000. Kistler Tiffany Companies LLC raised its position in shares of BB&T by 102.6% during the 4th quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 1,193 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of BB&T during the 4th quarter valued at $123,000. Shamrock Asset Management LLC bought a new stake in shares of BB&T during the 4th quarter valued at $123,000. Finally, Front Row Advisors LLC bought a new stake in shares of BB&T during the 4th quarter valued at $142,000. Hedge funds and other institutional investors own 63.98% of the company’s stock.
BBT has been the subject of several recent research reports. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “hold” rating on shares of BB&T in a research report on Thursday, January 18th. Raymond James Financial upgraded shares of BB&T from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 9th. Barclays upped their target price on shares of BB&T from $51.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $53.00 target price on shares of BB&T in a research report on Tuesday, January 9th. Fifteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BB&T has an average rating of “Hold” and an average target price of $53.81.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.86 billion. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. sell-side analysts expect that BB&T Co. will post 3.92 earnings per share for the current fiscal year.
The business also recently announced a None dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a $0.045 dividend. This represents a yield of 2.37%. The ex-dividend date is Monday, March 5th. BB&T’s payout ratio is presently 48.18%.
In related news, Director Nido R. Qubein sold 21,025 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $54.50, for a total value of $1,145,862.50. Following the completion of the transaction, the director now directly owns 59,513 shares of the company’s stock, valued at approximately $3,243,458.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cynthia B. Powell sold 8,929 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $54.51, for a total transaction of $486,719.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,078 shares of company stock valued at $9,316,414. Company insiders own 0.36% of the company’s stock.
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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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