Capital Investment Services of America Inc. lowered its stake in shares of BB&T Co. (NYSE:BBT) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 227,381 shares of the insurance provider’s stock after selling 10,352 shares during the quarter. Capital Investment Services of America Inc.’s holdings in BB&T were worth $12,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in BB&T in the 2nd quarter valued at $26,000. Marino Stram & Associates LLC bought a new position in shares of BB&T during the 1st quarter worth $32,000. Capital Bank & Trust Co grew its position in shares of BB&T by 49.6% during the 2nd quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock worth $46,000 after buying an additional 310 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of BB&T during the 2nd quarter worth $48,000. Finally, NuWave Investment Management LLC bought a new position in shares of BB&T during the 2nd quarter worth $57,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BBT traded up $0.67 during mid-day trading on Friday, reaching $52.00. 5,192,890 shares of the company were exchanged, compared to its average volume of 5,094,340. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The stock has a market cap of $39.06 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.34 and a beta of 1.17. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.90. The firm has a 50-day moving average of $50.27 and a 200 day moving average of $49.22.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 14th were paid a dividend of $0.45 per share. This is a boost from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.46%. BB&T’s dividend payout ratio is 44.44%.
In other BB&T news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director K. David Jr. Boyer sold 4,285 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total value of $225,562.40. The disclosure for this sale can be found here. Insiders have sold a total of 25,099,147 shares of company stock valued at $714,407,173 over the last 90 days. 0.49% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on BBT shares. ValuEngine downgraded BB&T from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Deutsche Bank set a $59.00 price target on BB&T and gave the stock a “buy” rating in a research report on Friday, July 26th. Morgan Stanley set a $51.00 price target on BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, UBS Group dropped their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.27.
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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