Verity & Verity LLC Increases Stake in BB&T Co. (NYSE:BBT)

Verity & Verity LLC grew its position in shares of BB&T Co. (NYSE:BBT) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,352 shares of the insurance provider’s stock after buying an additional 2,595 shares during the quarter. BB&T accounts for 2.2% of Verity & Verity LLC’s investment portfolio, making the stock its 12th largest holding. Verity & Verity LLC’s holdings in BB&T were worth $10,573,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in BB&T during the 2nd quarter worth $26,000. Marino Stram & Associates LLC purchased a new position in shares of BB&T in the 1st quarter valued at about $32,000. Capital Bank & Trust Co increased its holdings in shares of BB&T by 49.6% in the 2nd quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 310 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of BB&T in the 2nd quarter valued at about $48,000. Finally, NuWave Investment Management LLC purchased a new position in shares of BB&T in the 2nd quarter valued at about $57,000. Institutional investors own 70.16% of the company’s stock.

Shares of BB&T stock traded up $0.67 during mid-day trading on Friday, hitting $52.00. 5,192,890 shares of the stock were exchanged, compared to its average volume of 5,094,340. BB&T Co. has a twelve month low of $40.68 and a twelve month high of $53.90. The stock has a market capitalization of $39.06 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. The company has a 50-day simple moving average of $50.27 and a 200 day simple moving average of $49.22. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79.

BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that BB&T Co. will post 4.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.45 per share. This is a boost from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 3.46%. BB&T’s dividend payout ratio (DPR) is currently 44.44%.

In other BB&T news, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction dated Sunday, September 1st. The shares were sold at an average price of $25.00, for a total transaction of $112,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Hudson Weaver sold 21,705 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Insiders have sold a total of 25,099,147 shares of company stock worth $714,407,173 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

A number of brokerages have recently issued reports on BBT. Morgan Stanley set a $51.00 price target on shares of BB&T and gave the company a “hold” rating in a report on Friday, August 9th. Jefferies Financial Group upgraded shares of BB&T from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $58.00 in a report on Tuesday. Deutsche Bank set a $59.00 price target on shares of BB&T and gave the company a “buy” rating in a report on Friday, July 26th. UBS Group cut their price target on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Co set a $55.00 price target on shares of BB&T and gave the company a “buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. BB&T has an average rating of “Hold” and a consensus target price of $54.27.

About BB&T

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

Further Reading: Sell-Side Analysts

Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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