The Banced Corp Buys 494 Shares of BB&T Corporation (BBT)

The Banced Corp Buys 494 Shares of BB&T Corporation (BBT)

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after buying an additional 45,740,906 shares during the period. Vanguard Group Inc. raised its position in BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the period. Janus Capital Management LLC raised its position in BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock valued at $149,021,000 after buying an additional 1,062,590 shares during the period. FMR LLC raised its position in BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock valued at $65,440,000 after buying an additional 998,898 shares during the period. Finally, First Trust Advisors LP raised its position in BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock valued at $73,405,000 after buying an additional 966,962 shares during the period. 64.42% of the stock is currently owned by hedge funds and other institutional investors.

Banced Corp increased its stake in BB&T Corporation (NYSE:BBT) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 7,860 shares of the insurance provider’s stock after buying an additional 494 shares during the period. Banced Corp’s holdings in BB&T Corporation were worth $357,000 at the end of the most recent reporting period.

Shares of BB&T Corporation (NYSE:BBT) traded up 0.06% during trading on Wednesday, hitting $47.88. The stock had a trading volume of 916,495 shares. BB&T Corporation has a 52-week low of $36.45 and a 52-week high of $49.88. The firm has a market cap of $38.69 billion, a PE ratio of 17.87 and a beta of 1.07. The stock has a 50 day moving average of $45.29 and a 200 day moving average of $45.09.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities analysts anticipate that BB&T Corporation will post $2.83 EPS for the current year.

BB&T Corporation announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is 44.78%.

Several research analysts have recently weighed in on BBT shares. BidaskClub lowered BB&T Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. BMO Capital Markets reissued a “hold” rating and issued a $48.00 price objective on shares of BB&T Corporation in a research report on Friday, June 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research report on Wednesday, April 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $50.00 target price on shares of BB&T Corporation in a research report on Tuesday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $47.43.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.

BB&T Corporation Company Profile

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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