Franklin Resources Inc. lessened its holdings in BB&T Co. (NYSE:BBT) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,022,853 shares of the insurance provider’s stock after selling 3,493 shares during the period. Franklin Resources Inc. owned about 0.13% of BB&T worth $49,649,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Motco increased its stake in shares of BB&T by 1.4% in the 3rd quarter. Motco now owns 76,226 shares of the insurance provider’s stock valued at $3,700,000 after purchasing an additional 1,061 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of BB&T by 1.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 100,393 shares of the insurance provider’s stock valued at $5,064,000 after purchasing an additional 1,089 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV increased its stake in shares of BB&T by 4.4% in the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 26,316 shares of the insurance provider’s stock valued at $1,281,000 after purchasing an additional 1,106 shares in the last quarter. Community Bank N.A. increased its stake in shares of BB&T by 36.4% in the 3rd quarter. Community Bank N.A. now owns 4,310 shares of the insurance provider’s stock valued at $209,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Cynosure Advisors LLC increased its stake in shares of BB&T by 11.1% in the 2nd quarter. Cynosure Advisors LLC now owns 11,535 shares of the insurance provider’s stock valued at $582,000 after purchasing an additional 1,154 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.
Several equities research analysts have commented on BBT shares. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, October 3rd. BMO Capital Markets cut their price objective on BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, B. Riley set a $56.00 price objective on BB&T and gave the stock a “buy” rating in a research note on Monday, October 15th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. BB&T currently has a consensus rating of “Buy” and an average price target of $55.44.
In related news, Director Patrick C. Graney III bought 4,200 shares of the stock in a transaction dated Thursday, December 6th. The shares were acquired at an average cost of $47.56 per share, for a total transaction of $199,752.00. Following the acquisition, the director now directly owns 4,200 shares in the company, valued at approximately $199,752. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director I. Patricia Henry sold 611 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $49.50, for a total value of $30,244.50. Following the transaction, the director now owns 4,375 shares in the company, valued at $216,562.50. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
NYSE:BBT opened at $47.66 on Friday. BB&T Co. has a 12 month low of $45.93 and a 12 month high of $56.31. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a market cap of $37.10 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.13 and a beta of 0.95.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. BB&T had a return on equity of 11.66% and a net margin of 23.52%. BB&T’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. Equities research analysts forecast that BB&T Co. will post 4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, November 8th. BB&T’s dividend payout ratio is currently 51.59%.
TRADEMARK VIOLATION WARNING: “BB&T Co. (BBT) Position Decreased by Franklin Resources Inc.” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/12/08/bbt-co-bbt-position-decreased-by-franklin-resources-inc.html.
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.
Featured Story: What does relative strength index mean?
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.