BB&T Corp. (BBT) Sees Strong Trading Volume
BB&T Corp. (NYSE:BBT) shares saw strong trading volume on Friday . 2,766,325 shares were traded during trading, a decline of 5% from the previous session’s volume of 2,922,688 shares.The stock last traded at $37.86 and had previously closed at $37.91.
Several analysts recently weighed in on the company. Morgan Stanley reissued a “hold” rating and set a $37.00 price target on shares of BB&T Corp. in a report on Friday, August 5th. BMO Capital Markets reissued a “buy” rating and set a $40.00 price target on shares of BB&T Corp. in a report on Friday, July 22nd. FBR & Co reissued a “buy” rating and set a $45.00 price target on shares of BB&T Corp. in a report on Friday, July 22nd. Stephens cut BB&T Corp. from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of BB&T Corp. in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.46.
The company’s 50 day moving average price is $37.06 and its 200-day moving average price is $35.05. The company has a market cap of $30.94 billion and a PE ratio of 14.66.
BB&T Corp. (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. The company earned $2.79 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the business earned $0.69 earnings per share. BB&T Corp.’s revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that BB&T Corp. will post $2.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.16%. This is a boost from BB&T Corp.’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 10th.
In related news, insider Barbara F. Duck sold 29,976 shares of BB&T Corp. stock in a transaction on Monday, July 25th. The stock was sold at an average price of $36.79, for a total transaction of $1,102,817.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher L. Henson sold 73,295 shares of BB&T Corp. stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $38.04, for a total value of $2,788,141.80. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its stake in BB&T Corp. by 2.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,080,273 shares of the company’s stock valued at $78,656,000 after buying an additional 53,287 shares in the last quarter. American International Group Inc. raised its stake in BB&T Corp. by 1.6% in the fourth quarter. American International Group Inc. now owns 372,486 shares of the company’s stock valued at $14,084,000 after buying an additional 5,776 shares in the last quarter. Finally, KBC Group NV raised its stake in BB&T Corp. by 8.3% in the fourth quarter. KBC Group NV now owns 42,319 shares of the company’s stock valued at $1,600,000 after buying an additional 3,258 shares in the last quarter.
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