State of Wisconsin Investment Board Acquires 12,526 Shares of BB&T (BBT)

State of Wisconsin Investment Board increased its position in shares of BB&T (NYSE:BBT) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 625,763 shares of the insurance provider’s stock after buying an additional 12,526 shares during the period. State of Wisconsin Investment Board’s holdings in BB&T were worth $32,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBT. Millennium Management LLC bought a new stake in shares of BB&T during the 4th quarter worth $67,159,000. AXA boosted its holdings in shares of BB&T by 223.2% during the 4th quarter. AXA now owns 1,678,491 shares of the insurance provider’s stock worth $83,454,000 after buying an additional 1,159,200 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of BB&T by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 9,689,965 shares of the insurance provider’s stock worth $481,786,000 after buying an additional 860,902 shares during the period. Conning Inc. boosted its holdings in shares of BB&T by 3,301.2% during the 1st quarter. Conning Inc. now owns 747,011 shares of the insurance provider’s stock worth $38,874,000 after buying an additional 725,048 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of BB&T during the 4th quarter worth $32,059,000. 63.56% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Daryl N. Bible sold 74,847 shares of the stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $53.58, for a total value of $4,010,302.26. Following the completion of the transaction, the chief financial officer now owns 185,226 shares in the company, valued at approximately $9,924,409.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William Rufus Yates sold 16,279 shares of the stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $54.20, for a total transaction of $882,321.80. Following the completion of the transaction, the insider now owns 42,101 shares of the company’s stock, valued at approximately $2,281,874.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 316,048 shares of company stock valued at $17,014,541. Corporate insiders own 0.51% of the company’s stock.



Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. ValuEngine raised shares of BB&T from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, February 28th. Royal Bank of Canada upped their price objective on shares of BB&T to $59.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, BMO Capital Markets upped their price objective on shares of BB&T to $64.00 and gave the stock a “market perform” rating in a report on Friday, January 19th. Thirteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.48.

Shares of BB&T opened at $55.06 on Monday, MarketBeat.com reports. BB&T has a 52-week low of $41.17 and a 52-week high of $56.31. The firm has a market capitalization of $42.93 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.88.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, April 19th. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. BB&T had a net margin of 21.63% and a return on equity of 10.38%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The business’s revenue was up .8% on a year-over-year basis. equities research analysts forecast that BB&T will post 4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be paid a $0.375 dividend. This is a boost from BB&T’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, May 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.72%. BB&T’s dividend payout ratio is currently 47.77%.

About BB&T

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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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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