Tocqueville Asset Management L.P. Reduces Stock Position in BB&T Co. (NYSE:BBT)

Tocqueville Asset Management L.P. lessened its position in shares of BB&T Co. (NYSE:BBT) by 52.8% during the 2nd quarter, Holdings Channel reports. The firm owned 20,100 shares of the insurance provider’s stock after selling 22,521 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in BB&T were worth $988,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Zeke Capital Advisors LLC lifted its holdings in shares of BB&T by 1.1% in the 2nd quarter. Zeke Capital Advisors LLC now owns 18,566 shares of the insurance provider’s stock valued at $912,000 after buying an additional 198 shares during the period. Graves Light Private Wealth Management Inc. raised its holdings in BB&T by 0.4% in the 2nd quarter. Graves Light Private Wealth Management Inc. now owns 52,085 shares of the insurance provider’s stock worth $2,559,000 after purchasing an additional 200 shares during the period. Weather Gauge Advisory LLC raised its holdings in BB&T by 0.3% in the 2nd quarter. Weather Gauge Advisory LLC now owns 78,278 shares of the insurance provider’s stock worth $3,846,000 after purchasing an additional 206 shares during the period. Lakeview Capital Partners LLC raised its holdings in BB&T by 2.5% in the 1st quarter. Lakeview Capital Partners LLC now owns 8,637 shares of the insurance provider’s stock worth $402,000 after purchasing an additional 209 shares during the period. Finally, Wetherby Asset Management Inc. raised its holdings in BB&T by 1.3% in the 2nd quarter. Wetherby Asset Management Inc. now owns 19,567 shares of the insurance provider’s stock worth $961,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 67.93% of the company’s stock.

In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.



NYSE:BBT opened at $45.71 on Friday. BB&T Co. has a 12 month low of $40.68 and a 12 month high of $53.08. The stock has a 50 day moving average of $49.40 and a two-hundred day moving average of $49.26. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. The firm has a market cap of $35.01 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.12.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business earned $1.01 EPS. BB&T’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that BB&T Co. will post 4.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 annualized dividend and a yield of 3.94%. BB&T’s dividend payout ratio (DPR) is currently 44.44%.

BBT has been the subject of a number of analyst reports. Deutsche Bank set a $59.00 price target on BB&T and gave the stock a “buy” rating in a report on Friday, July 26th. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley set a $51.00 price target on BB&T and gave the stock a “hold” rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, UBS Group reduced their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.86.

BB&T Company Profile

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

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