Captrust Financial Advisors purchased a new position in BB&T Co. (NYSE:BBT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 57,928 shares of the insurance provider’s stock, valued at approximately $2,880,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBT. Delpha Capital Management LLC purchased a new stake in shares of BB&T in the fourth quarter worth $106,000. Kistler Tiffany Companies LLC increased its stake in shares of BB&T by 102.6% in the fourth quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 1,193 shares in the last quarter. Shamrock Asset Management LLC purchased a new stake in shares of BB&T in the fourth quarter worth $123,000. Cerebellum GP LLC purchased a new stake in shares of BB&T in the fourth quarter worth $123,000. Finally, Front Row Advisors LLC purchased a new stake in shares of BB&T in the fourth quarter worth $142,000. Institutional investors and hedge funds own 63.98% of the company’s stock.
A number of brokerages have recently issued reports on BBT. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Wednesday, February 28th. Oppenheimer reissued a “hold” rating on shares of BB&T in a research note on Thursday, January 18th. B. Riley reissued a “hold” rating and issued a $55.00 price objective on shares of BB&T in a research note on Thursday, January 18th. Sandler O’Neill set a $55.00 price objective on shares of BB&T and gave the stock a “hold” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada increased their price objective on shares of BB&T to $59.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Fifteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. BB&T currently has an average rating of “Hold” and a consensus price target of $53.81.
BB&T (NYSE:BBT) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the company posted $0.72 EPS. The business’s revenue was up 3.6% on a year-over-year basis. sell-side analysts anticipate that BB&T Co. will post 3.92 earnings per share for the current fiscal year.
The firm also recently disclosed a None dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Monday, March 5th. This represents a dividend yield of 2.37%. BB&T’s payout ratio is currently 48.18%.
In other BB&T news, Chairman Kelly S. King sold 60,000 shares of BB&T stock in a transaction on Friday, January 19th. The shares were sold at an average price of $54.68, for a total value of $3,280,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director I. Patricia Henry sold 2,825 shares of BB&T stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $55.20, for a total transaction of $155,940.00. Following the completion of the transaction, the director now directly owns 4,375 shares of the company’s stock, valued at $241,500. The disclosure for this sale can be found here. Insiders sold a total of 170,078 shares of company stock valued at $9,316,414 over the last three months. Corporate 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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