BB&T Corp. (BBT) Shares Bought by Northern Trust Corp

BB&T Corp. (BBT) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its stake in shares of BB&T Corp. (NYSE:BBT) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,469,732 shares of the company’s stock after buying an additional 203,776 shares during the period. Northern Trust Corp’s holdings in BB&T Corp. were worth $432,639,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BBT. Westpac Banking Corp raised its position in shares of BB&T Corp. by 24.3% in the third quarter. Westpac Banking Corp now owns 55,043 shares of the company’s stock valued at $2,076,000 after buying an additional 10,756 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of BB&T Corp. by 3.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,704,599 shares of the company’s stock valued at $64,297,000 after buying an additional 58,916 shares during the last quarter. BB&T Securities LLC raised its position in shares of BB&T Corp. by 1.1% in the third quarter. BB&T Securities LLC now owns 307,678 shares of the company’s stock valued at $11,605,000 after buying an additional 3,231 shares during the last quarter. Vaughan David Investments Inc. IL raised its position in shares of BB&T Corp. by 2.3% in the third quarter. Vaughan David Investments Inc. IL now owns 524,402 shares of the company’s stock valued at $19,780,000 after buying an additional 11,920 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of BB&T Corp. by 48.5% in the third quarter. State of Tennessee Treasury Department now owns 267,840 shares of the company’s stock valued at $10,103,000 after buying an additional 87,416 shares during the last quarter. 62.99% of the stock is currently owned by institutional investors.

Shares of BB&T Corp. (NYSE:BBT) opened at 47.54 on Tuesday. The stock’s 50 day moving average is $44.68 and its 200-day moving average is $39.11. The stock has a market cap of $38.58 billion, a PE ratio of 17.67 and a beta of 1.08. BB&T Corp. has a 1-year low of $29.95 and a 1-year high of $47.85.

BB&T Corp. (NYSE:BBT) last posted its earnings results on Wednesday, October 19th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.77 billion. BB&T Corp. had a net margin of 20.54% and a return on equity of 9.45%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. On average, analysts predict that BB&T Corp. will post $2.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 10th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, November 8th. BB&T Corp.’s dividend payout ratio is currently 44.44%.

Several brokerages recently issued reports on BBT. FIG Partners reissued an “outperform” rating and set a $53.00 price objective (up from $47.00) on shares of BB&T Corp. in a report on Friday. Hilliard Lyons downgraded shares of BB&T Corp. from a “buy” rating to a “neutral” rating and raised their target price for the company from $42.00 to $50.00 in a research note on Tuesday, December 20th. Deutsche Bank AG raised their target price on shares of BB&T Corp. from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, November 30th. BMO Capital Markets downgraded shares of BB&T Corp. from an “outperform” rating to a “market perform” rating and raised their target price for the company from $43.00 to $45.00 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded shares of BB&T Corp. from an “equal weight” rating to an “underweight” rating and set a $42.00 target price for the company. in a research note on Monday, November 14th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.18.

In related news, insider Brantley J. Standridge sold 19,873 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $39.13, for a total transaction of $777,630.49. Following the completion of the sale, the insider now owns 30,817 shares in the company, valued at approximately $1,205,869.21. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Cynthia B. Powell sold 7,047 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $40.36, for a total transaction of $284,416.92. Following the sale, the insider now owns 18,463 shares of the company’s stock, valued at approximately $745,166.68. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.

About BB&T Corp.

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