BB&T Co. (NYSE:BBT) Shares Bought by Seeyond
Seeyond boosted its position in BB&T Co. (NYSE:BBT) by 24.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,462 shares of the insurance provider’s stock after acquiring an additional 2,873 shares during the period. Seeyond’s holdings in BB&T were worth $711,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC purchased a new stake in BB&T in the 1st quarter worth approximately $32,000. Resources Investment Advisors Inc. lifted its holdings in shares of BB&T by 149.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 957 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 573 shares during the period. Westside Investment Management Inc. purchased a new position in shares of BB&T during the 2nd quarter worth about $48,000. NuWave Investment Management LLC purchased a new position in shares of BB&T during the 2nd quarter worth about $57,000. Finally, Financial Gravity Wealth Inc. lifted its holdings in shares of BB&T by 285.4% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,268 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 939 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on BBT shares. JPMorgan Chase & Co. cut their price objective 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. UBS Group cut their price objective 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. Wells Fargo & Co set a $55.00 price objective on shares of BB&T and gave the stock a “buy” rating in a report on Friday, August 16th. Deutsche Bank set a $59.00 price objective on shares of BB&T and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley set a $51.00 price objective on shares of BB&T and gave the stock a “hold” rating in a report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.95.
NYSE BBT traded up $0.71 during mid-day trading on Friday, hitting $53.50. The company’s stock had a trading volume of 148,820 shares, compared to its average volume of 4,355,941. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $53.05. The stock’s fifty day simple moving average is $48.10 and its two-hundred day simple moving average is $48.91. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $39.26 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm posted $1.01 earnings per share. BB&T’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that BB&T Co. will post 4.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.36%. BB&T’s dividend payout ratio is currently 44.44%.
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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