CNB Bank boosted its stake in BB&T Co. (NYSE:BBT) by 283.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,051 shares of the insurance provider’s stock after purchasing an additional 777 shares during the quarter. CNB Bank’s holdings in BB&T were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its stake in BB&T by 1.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,505 shares of the insurance provider’s stock valued at $585,000 after purchasing an additional 231 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in BB&T by 19.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 240 shares in the last quarter. Reynders McVeigh Capital Management LLC raised its stake in BB&T by 0.9% in the third quarter. Reynders McVeigh Capital Management LLC now owns 32,960 shares of the insurance provider’s stock valued at $1,600,000 after purchasing an additional 280 shares in the last quarter. Baldwin Brothers Inc. MA raised its stake in BB&T by 37.8% in the fourth quarter. Baldwin Brothers Inc. MA now owns 1,142 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 313 shares in the last quarter. Finally, Coastline Trust Co grew its position in BB&T by 0.7% during the fourth quarter. Coastline Trust Co now owns 48,870 shares of the insurance provider’s stock valued at $2,117,000 after acquiring an additional 320 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.
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Shares of BBT stock opened at $50.82 on Wednesday. BB&T Co. has a 52 week low of $40.68 and a 52 week high of $56.31. The firm has a market capitalization of $39.20 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.87.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that BB&T Co. will post 4.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 13th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, February 12th. BB&T’s payout ratio is 40.00%.
A number of research analysts have commented on the stock. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research report on Wednesday, December 19th. Barclays increased their price target on shares of BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 2nd. Argus reiterated a “buy” rating on shares of BB&T in a research report on Friday, January 18th. Finally, Deutsche Bank cut shares of BB&T from a “buy” rating to a “hold” rating and set a $49.08 target price on the stock. in a report on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $53.96.
In other BB&T news, Director Patrick C. Graney III purchased 4,200 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was bought at an average price of $47.56 per share, with a total value of $199,752.00. Following the completion of the purchase, the director now directly owns 4,200 shares of the company’s stock, valued at approximately $199,752. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.51% of the company’s stock.
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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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