Tower Research Capital LLC TRC Buys 19,319 Shares of BB&T Co. (BBT)
Tower Research Capital LLC TRC increased its stake in BB&T Co. (NYSE:BBT) by 600.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,534 shares of the insurance provider’s stock after buying an additional 19,319 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BB&T were worth $1,137,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Unigestion Holding SA purchased a new position in shares of BB&T in the second quarter valued at $17,754,000. Toronto Dominion Bank grew its position in shares of BB&T by 19.2% in the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after purchasing an additional 81,234 shares in the last quarter. Strs Ohio grew its position in shares of BB&T by 3.3% in the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after purchasing an additional 29,812 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of BB&T by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 335,500 shares of the insurance provider’s stock valued at $16,923,000 after purchasing an additional 9,808 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of BB&T by 7.8% in the first quarter. Cubist Systematic Strategies LLC now owns 82,731 shares of the insurance provider’s stock valued at $4,305,000 after purchasing an additional 6,020 shares in the last quarter. Institutional investors own 65.55% of the company’s stock.
In other news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the sale, the insider now owns 14,911 shares of the company’s stock, valued at approximately $768,662.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company’s stock.
BB&T (NYSE:BBT) last released its earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). BB&T had a net margin of 22.53% and a return on equity of 11.02%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $0.77 EPS. The company’s revenue was up .8% on a year-over-year basis. equities research analysts forecast that BB&T Co. will post 3.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 10th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, August 9th. This is a positive change from BB&T’s previous quarterly dividend of $0.38. BB&T’s payout ratio is 51.59%.
Several research firms recently commented on BBT. B. Riley reduced their target price on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, July 20th. BMO Capital Markets restated a “buy” rating and set a $59.00 target price on shares of BB&T in a research report on Thursday, July 12th. FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Stephens reiterated a “buy” rating and issued a $59.00 price objective on shares of BB&T in a report on Friday, July 20th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price objective on shares of BB&T in a report on Friday, July 20th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.00.
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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