Hudson Valley Investment Advisors Inc. ADV raised its stake in BB&T Co. (NYSE:BBT) by 32.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,656 shares of the insurance provider’s stock after purchasing an additional 14,648 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in BB&T were worth $2,896,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in BBT. Toronto Dominion Bank grew its stake in shares of BB&T by 19.2% during the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after acquiring an additional 81,234 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of BB&T by 3.1% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 304,053 shares of the insurance provider’s stock valued at $15,336,000 after acquiring an additional 9,097 shares in the last quarter. Unigestion Holding SA acquired a new stake in shares of BB&T during the second quarter valued at about $17,754,000. Strs Ohio grew its stake in shares of BB&T by 3.3% during the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after acquiring an additional 29,812 shares in the last quarter. Finally, Cypress Capital Group grew its stake in shares of BB&T by 62.7% during the second quarter. Cypress Capital Group now owns 10,225 shares of the insurance provider’s stock valued at $516,000 after acquiring an additional 3,940 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.
NYSE:BBT traded down $0.51 during mid-day trading on Friday, reaching $46.93. The stock had a trading volume of 601,901 shares, compared to its average volume of 3,727,969. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05. BB&T Co. has a 1-year low of $44.62 and a 1-year high of $56.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.02). The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. On average, equities research analysts forecast that BB&T Co. will post 4 EPS for the current fiscal year.
In related news, insider Donta L. Wilson sold 3,018 shares of BB&T stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the transaction, the insider now directly owns 14,911 shares in the company, valued at $768,662.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.
BBT has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on BB&T from $59.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 20th. Zacks Investment Research downgraded BB&T from a “buy” rating to a “hold” rating in a research note on Friday. Stephens restated a “buy” rating and set a $59.00 target price on shares of BB&T in a research note on Friday, July 20th. FIG Partners downgraded BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Finally, B. Riley lowered their target price on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. BB&T currently has a consensus rating of “Buy” and an average price target of $54.63.
BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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