Sei Investments Co. Acquires 46,222 Shares of BB&T Corp. (BBT)
Sei Investments Co. boosted its stake in BB&T Corp. (NYSE:BBT) by 9.5% during the third quarter, Holdings Channel reports. The fund owned 534,027 shares of the company’s stock after buying an additional 46,222 shares during the period. Sei Investments Co.’s holdings in BB&T Corp. were worth $20,144,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Carnick & Kubik Group LLC purchased a new position in shares of BB&T Corp. during the second quarter valued at approximately $2,142,000. Tredje AP fonden increased its position in shares of BB&T Corp. by 8.3% in the second quarter. Tredje AP fonden now owns 74,760 shares of the company’s stock valued at $2,662,000 after buying an additional 5,724 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of BB&T Corp. by 5.2% in the second quarter. Retirement Systems of Alabama now owns 418,487 shares of the company’s stock valued at $14,902,000 after buying an additional 20,593 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of BB&T Corp. by 356.8% in the second quarter. Meeder Asset Management Inc. now owns 19,039 shares of the company’s stock valued at $677,000 after buying an additional 14,871 shares during the last quarter. Finally, BB&T Corp increased its position in shares of BB&T Corp. by 5.0% in the second quarter. BB&T Corp now owns 3,867,790 shares of the company’s stock valued at $137,731,000 after buying an additional 184,704 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.
BB&T Corp. (NYSE:BBT) traded up 0.43% during midday trading on Tuesday, hitting $44.23. 745,023 shares of the stock traded hands. The stock has a market cap of $35.89 billion, a PE ratio of 16.44 and a beta of 1.02. The company has a 50-day moving average of $40.43 and a 200-day moving average of $37.67. BB&T Corp. has a 12 month low of $29.95 and a 12 month high of $44.88.
BB&T Corp. (NYSE:BBT) last posted its earnings results on Wednesday, October 19th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. BB&T Corp. had a return on equity of 9.45% and a net margin of 20.54%. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts anticipate that BB&T Corp. will post $2.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 annualized dividend and a yield of 2.69%. BB&T Corp.’s dividend payout ratio (DPR) is presently 44.44%.
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BBT has been the topic of several analyst reports. lifted their target price on shares of BB&T Corp. from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $42.00 target price on shares of BB&T Corp. in a research note on Wednesday, September 28th. Morgan Stanley downgraded shares of BB&T Corp. from an “equal weight” rating to an “underweight” rating and set a $42.00 price objective on the stock. in a research report on Monday, November 14th. They noted that the move was a valuation call. Barclays PLC reissued a “hold” rating and set a $40.00 price objective on shares of BB&T Corp. in a research report on Tuesday, October 11th. Finally, FBR & Co downgraded shares of BB&T Corp. from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $45.00 to $40.00 in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.79.
In other BB&T Corp. news, Director I. Patricia Henry sold 1,000 shares of BB&T Corp. stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $38.13, for a total value of $38,130.00. Following the transaction, the director now owns 8,090 shares in the company, valued at $308,471.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cynthia B. Powell sold 9,012 shares of BB&T Corp. stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $42.21, for a total value of $380,396.52. Following the completion of the transaction, the insider now owns 20,428 shares in the company, valued at approximately $862,265.88. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.
BB&T Corp. Company Profile
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