Bogart Wealth LLC boosted its holdings in BB&T Co. (NYSE:BBT) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,560 shares of the insurance provider’s stock after purchasing an additional 740 shares during the quarter. Bogart Wealth LLC’s holdings in BB&T were worth $670,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BBT. FMR LLC boosted its stake in shares of BB&T by 7.3% during the first quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock valued at $16,284,000 after purchasing an additional 23,680 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of BB&T by 5.4% in the second quarter. Fulton Bank N.A. now owns 9,854 shares of the insurance provider’s stock worth $485,000 after buying an additional 509 shares during the last quarter. OLD Point Trust & Financial Services N A grew its position in BB&T by 3.3% during the second quarter. OLD Point Trust & Financial Services N A now owns 73,252 shares of the insurance provider’s stock valued at $3,599,000 after buying an additional 2,350 shares during the period. Rockland Trust Co. grew its position in shares of BB&T by 21.0% in the second quarter. Rockland Trust Co. now owns 6,652 shares of the insurance provider’s stock valued at $327,000 after purchasing an additional 1,156 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of BB&T in the second quarter valued at about $15,462,000. Hedge funds and other institutional investors own 70.29% of the company’s stock.
In other BB&T news, Director K. David Jr. Boyer sold 4,285 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nido R. Qubein sold 4,500 shares of the business’s stock in a transaction that occurred on Sunday, September 1st. The stock was sold at an average price of $25.00, for a total transaction of $112,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,077,442 shares of company stock valued at $713,290,667 in the last quarter. 0.49% of the stock is currently owned by company insiders.
Shares of BBT stock opened at $54.44 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $42.10 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17. The company has a 50 day moving average price of $53.05 and a 200 day moving average price of $50.12. BB&T Co. has a fifty-two week low of $40.68 and a fifty-two week high of $55.66.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.03 by $0.04. BB&T had a net margin of 23.17% and a return on equity of 12.25%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, research analysts forecast that BB&T Co. will post 4.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 7th. BB&T’s dividend payout ratio (DPR) is presently 44.44%.
Several analysts have recently issued reports on the stock. Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a research report on Friday, July 26th. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the company a “buy” rating in a research report on Friday, August 16th. Jefferies Financial Group upgraded shares of BB&T from a “hold” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $58.00 in a research report on Tuesday, October 8th. Finally, Janney Montgomery Scott lowered shares of BB&T from a “buy” rating to a “neutral” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $54.50.
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: Price to Earnings Ratio (PE) Basics
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