BB&T Co. (BBT) Stake Lifted by KBC Group NV
KBC Group NV lifted its position in shares of BB&T Co. (NYSE:BBT) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,184 shares of the insurance provider’s stock after purchasing an additional 2,050 shares during the period. KBC Group NV’s holdings in BB&T were worth $3,338,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in BBT. IMA Wealth Inc. acquired a new position in shares of BB&T during the 2nd quarter worth about $116,000. First PREMIER Bank increased its stake in shares of BB&T by 64.9% during the 2nd quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares during the last quarter. Certified Advisory Corp increased its stake in shares of BB&T by 399.6% during the 1st quarter. Certified Advisory Corp now owns 2,658 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 2,126 shares during the last quarter. First Republic Investment Management Inc. grew its stake in BB&T by 65.1% in the 1st quarter. First Republic Investment Management Inc. now owns 192,950 shares of the insurance provider’s stock valued at $141,000 after buying an additional 76,093 shares during the last quarter. Finally, Ostrum Asset Management acquired a new position in BB&T in the 1st quarter valued at about $143,000. Institutional investors own 63.97% of the company’s stock.
In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the transaction, the insider now owns 14,911 shares in the company, valued at approximately $768,662.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 2,500 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $52.34, for a total transaction of $130,850.00. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.02). BB&T had a return on equity of 11.02% and a net margin of 22.53%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. equities analysts expect that BB&T Co. will post 3.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, August 9th. This is a positive change from BB&T’s previous quarterly dividend of $0.38. BB&T’s dividend payout ratio is presently 51.59%.
A number of brokerages recently commented on BBT. BMO Capital Markets decreased their price target on shares of BB&T from $64.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, April 20th. Morgan Stanley reiterated an “overweight” rating on shares of BB&T in a research note on Monday, April 23rd. Hilliard Lyons upgraded shares of BB&T from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, April 23rd. ValuEngine lowered shares of BB&T from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, B. Riley decreased their price target on shares of BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $54.70.
BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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