BB&T Corporation (BBT) Position Lowered by Heartland Advisors Inc.
Heartland Advisors Inc. lessened its position in shares of BB&T Corporation (NYSE:BBT) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,786 shares of the insurance provider’s stock after selling 19,608 shares during the quarter. Heartland Advisors Inc.’s holdings in BB&T Corporation were worth $9,660,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Archford Capital Strategies LLC increased its stake in BB&T Corporation by 199.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock valued at $191,000 after purchasing an additional 1,499 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in BB&T Corporation during the 2nd quarter valued at approximately $111,000. Community Bank N.A. increased its stake in BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 144 shares in the last quarter. Liberty Capital Management Inc. acquired a new position in BB&T Corporation during the 2nd quarter valued at approximately $136,000. Finally, Highstreet Asset Management Inc. increased its stake in BB&T Corporation by 105.3% during the 3rd quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 65.82% of the company’s stock.
In other news, Chairman Kelly S. King sold 66,372 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer S. Banner sold 11,508 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $48.60, for a total transaction of $559,288.80. Following the transaction, the director now directly owns 20,300 shares in the company, valued at $986,580. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,234 shares of company stock worth $7,298,272. Corporate insiders own 0.36% of the company’s stock.
A number of brokerages have issued reports on BBT. Stephens upgraded shares of BB&T Corporation from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Thursday, October 5th. SunTrust Banks, Inc. restated a “buy” rating and set a $52.00 price target on shares of BB&T Corporation in a research note on Friday, October 20th. FBR & Co set a $48.00 price target on shares of BB&T Corporation and gave the company a “hold” rating in a research note on Friday, October 20th. Citigroup Inc. restated a “neutral” rating and set a $49.00 price target (up previously from $47.00) on shares of BB&T Corporation in a research note on Monday, October 9th. Finally, Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.18.
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BB&T Corporation (BBT) traded up 0.5732% during trading on Tuesday, reaching $49.3915. 567,101 shares of the company’s stock traded hands. The stock has a market cap of $39.91 billion, a P/E ratio of 18.4365 and a beta of 1.07. The firm’s 50 day moving average price is $46.44 and its 200-day moving average price is $45.16. BB&T Corporation has a one year low of $38.23 and a one year high of $49.88.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. BB&T Corporation had a net margin of 19.42% and a return on equity of 9.64%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that BB&T Corporation will post $2.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.69%. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.07%.
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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