BB&T Corp. (BBT) Sees Large Volume Increase
BB&T Corp. (NYSE:BBT) shares saw an uptick in trading volume on Friday . 2,766,325 shares traded hands during mid-day 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.
A number of analysts have commented on the stock. Wells Fargo & Co. reaffirmed a “buy” rating on shares of BB&T Corp. in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of BB&T Corp. in a report on Sunday, June 26th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BB&T Corp. in a report on Tuesday, May 3rd. Morgan Stanley reaffirmed a “hold” rating and set a $37.00 target price on shares of BB&T Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of BB&T Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. BB&T Corp. currently has an average rating of “Hold” and an average price target of $39.46.
The firm has a 50-day moving average of $37.06 and a 200-day moving average of $35.05. The stock has a market cap of $30.94 billion and a P/E ratio of 14.66.
BB&T Corp. (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.05. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities research analysts predict that BB&T Corp. will post $2.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, August 10th. This is a positive change from BB&T Corp.’s previous quarterly dividend of $0.28.
In other BB&T Corp. news, Director K. David Jr. Boyer sold 2,448 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $37.83, for a total value of $92,607.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher L. Henson sold 73,295 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $38.04, for a total transaction of $2,788,141.80. The disclosure for this sale can be found here.
Other large investors recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted 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 worth $78,656,000 after buying an additional 53,287 shares during the last quarter. American International Group Inc. boosted 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 worth $14,084,000 after buying an additional 5,776 shares during the last quarter. Finally, KBC Group NV boosted 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 worth $1,600,000 after buying an additional 3,258 shares during the last quarter.
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