Pzena Investment Management LLC decreased its position in shares of BB&T Corp. (NYSE:BBT) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 477,752 shares of the company’s stock after selling 3,262 shares during the period. Pzena Investment Management LLC’s holdings in BB&T Corp. were worth $18,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BBT. WFG Advisors LP increased its position in BB&T Corp. by 134.6% in the second quarter. WFG Advisors LP now owns 2,829 shares of the company’s stock worth $101,000 after buying an additional 1,623 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of BB&T Corp. by 18.4% in the third quarter. FTB Advisors Inc. now owns 2,788 shares of the company’s stock worth $105,000 after buying an additional 434 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of BB&T Corp. by 13.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,989 shares of the company’s stock worth $106,000 after buying an additional 344 shares during the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in shares of BB&T Corp. during the second quarter worth approximately $110,000. Finally, Global X Management Co. LLC boosted its stake in shares of BB&T Corp. by 117.2% in the second quarter. Global X Management Co. LLC now owns 3,174 shares of the company’s stock worth $113,000 after buying an additional 1,713 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for BB&T Corp. (NYSE:BBT)

BB&T Corp. (NYSE:BBT) traded up 0.30% during midday trading on Tuesday, hitting $44.17. 1,031,281 shares of the stock traded hands. The company has a market cap of $35.84 billion, a price-to-earnings ratio of 16.41 and a beta of 1.02. BB&T Corp. has a 52-week low of $29.95 and a 52-week high of $44.88. The firm’s 50-day moving average is $40.43 and its 200-day moving average is $37.67.

BB&T Corp. (NYSE:BBT) last released its earnings results on Wednesday, October 19th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. BB&T Corp. had a net margin of 20.54% and a return on equity of 9.45%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts predict that BB&T Corp. will post $2.77 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Tuesday, November 8th. BB&T Corp.’s dividend payout ratio (DPR) is presently 44.44%.

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BBT has been the topic of a number of recent research reports. BMO Capital Markets cut shares of BB&T Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the company from $43.00 to $45.00 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Credit Suisse Group AG restated a “buy” rating and set a $42.00 price target on shares of BB&T Corp. in a research note on Wednesday, September 28th. FBR & Co cut shares of BB&T Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $45.00 to $40.00 in a research note on Tuesday, October 11th. upped their price target on shares of BB&T Corp. from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. Finally, Morgan Stanley cut shares of BB&T Corp. from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research note on Monday, November 14th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $39.79.

In related news, insider Cynthia B. Powell sold 9,012 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $42.21, for a total transaction of $380,396.52. Following the sale, the insider now owns 20,428 shares of the company’s stock, valued at $862,265.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director I. Patricia Henry sold 1,000 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $38.13, for a total transaction of $38,130.00. Following the sale, the director now directly owns 8,090 shares in the company, valued at approximately $308,471.70. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by insiders.

About BB&T Corp.

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