MUFG Securities EMEA plc cut its holdings in BB&T Co. (NYSE:BBT) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 239,210 shares of the insurance provider’s stock after selling 14,079 shares during the quarter. MUFG Securities EMEA plc’s holdings in BB&T were worth $11,752,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in BB&T by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock worth $398,655,000 after buying an additional 590,366 shares during the period. Victory Capital Management Inc. grew its holdings in shares of BB&T by 13.8% during the 1st quarter. Victory Capital Management Inc. now owns 341,366 shares of the insurance provider’s stock worth $15,884,000 after purchasing an additional 41,367 shares in the last quarter. South Dakota Investment Council raised its stake in shares of BB&T by 20.7% in the first quarter. South Dakota Investment Council now owns 42,000 shares of the insurance provider’s stock valued at $1,954,000 after purchasing an additional 7,200 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of BB&T in the 1st quarter valued at $340,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in BB&T by 0.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 132,543 shares of the insurance provider’s stock valued at $6,167,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.
Several analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. UBS Group dropped their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the company a “buy” rating in a research note on Friday, August 16th. Morgan Stanley set a $51.00 target price on shares of BB&T and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Deutsche Bank set a $59.00 target price on shares of BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $53.95.
BB&T (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that BB&T Co. will post 4.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Tuesday, August 13th. BB&T’s dividend payout ratio is 44.44%.
In other BB&T news, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction that occurred on Sunday, September 1st. The shares were sold at an average price of $25.00, for a total value of $112,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Hudson Weaver sold 21,705 shares of BB&T stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.
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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