Wheatland Advisors Inc. lessened its stake in shares of BB&T Co. (NYSE:BBT) by 0.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 88,852 shares of the insurance provider’s stock after selling 700 shares during the quarter. BB&T comprises about 3.3% of Wheatland Advisors Inc.’s portfolio, making the stock its 5th largest holding. Wheatland Advisors Inc.’s holdings in BB&T were worth $4,365,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in BB&T by 91.1% in the 2nd quarter. Van ECK Associates Corp now owns 25,187 shares of the insurance provider’s stock worth $1,237,000 after purchasing an additional 12,010 shares in the last quarter. Semmax Financial Advisors Inc. raised its stake in BB&T by 87.1% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 29,331 shares of the insurance provider’s stock worth $1,441,000 after purchasing an additional 13,651 shares in the last quarter. Biondo Investment Advisors LLC acquired a new stake in BB&T in the 2nd quarter worth about $2,787,000. Jennison Associates LLC raised its stake in BB&T by 20.1% in the 2nd quarter. Jennison Associates LLC now owns 2,373,683 shares of the insurance provider’s stock worth $116,619,000 after purchasing an additional 397,054 shares in the last quarter. Finally, Cynosure Management LLC acquired a new stake in BB&T in the 2nd quarter worth about $542,000. Institutional investors own 68.38% of the company’s stock.
BBT has been the topic of several recent analyst reports. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley set a $51.00 target price on shares of BB&T and gave the company a “hold” rating in a report on Friday, August 9th. UBS Group decreased their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BB&T currently has a consensus rating of “Buy” and an average target price of $53.95.
BBT stock traded down $1.43 during mid-day trading on Friday, hitting $45.25. The stock had a trading volume of 3,146,683 shares, compared to its average volume of 4,617,520. 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 Co. has a 52 week low of $40.68 and a 52 week high of $52.58. The firm has a market capitalization of $35.76 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.18 and a beta of 1.12. The firm has a fifty day simple moving average of $49.01 and a 200 day simple moving average of $49.16.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, equities analysts expect that BB&T Co. will post 4.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Wednesday, August 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, August 13th. BB&T’s dividend payout ratio (DPR) is presently 44.44%.
In related news, insider David Hudson Weaver sold 21,705 shares of BB&T stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $51.44, for a total transaction of $1,116,505.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Louis B. Lynn sold 2,500 shares of BB&T stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total transaction of $120,825.00. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
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.
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