AlphaMark Advisors LLC Sells 985 Shares of BB&T Corporation (BBT)
AlphaMark Advisors LLC lowered its stake in shares of BB&T Corporation (NYSE:BBT) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,844 shares of the insurance provider’s stock after selling 985 shares during the period. AlphaMark Advisors LLC’s holdings in BB&T Corporation were worth $261,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Monetary Management Group Inc. acquired a new stake in BB&T Corporation during the fourth quarter worth approximately $514,000. Heritage Trust Co acquired a new stake in BB&T Corporation during the first quarter worth approximately $2,371,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in BB&T Corporation during the fourth quarter worth approximately $1,235,000. Glen Harbor Capital Management LLC boosted its stake in BB&T Corporation by 47.5% in the first quarter. Glen Harbor Capital Management LLC now owns 23,426 shares of the insurance provider’s stock worth $1,047,000 after buying an additional 7,548 shares in the last quarter. Finally, Cypress Capital Management LLC boosted its stake in BB&T Corporation by 1,994.1% in the fourth quarter. Cypress Capital Management LLC now owns 176,325 shares of the insurance provider’s stock worth $8,291,000 after buying an additional 167,905 shares in the last quarter. Institutional investors own 64.64% of the company’s stock.
BB&T Corporation (NYSE BBT) opened at 44.37 on Tuesday. BB&T Corporation has a 12 month low of $32.85 and a 12 month high of $49.88. The stock has a market cap of $36.00 billion, a price-to-earnings ratio of 17.34 and a beta of 1.06. The firm’s 50 day moving average price is $43.16 and its 200 day moving average price is $45.38.
BB&T Corporation (NYSE:BBT) last issued its quarterly earnings results on Thursday, April 20th. The insurance provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. BB&T Corporation had a net margin of 19.06% and a return on equity of 9.49%. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that BB&T Corporation will post $2.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.20 annualized dividend and a yield of 2.70%. BB&T Corporation’s dividend payout ratio is presently 46.69%.
A number of equities research analysts have commented on the company. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their price target for the company from $51.00 to $49.00 in a report on Monday, April 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.09.
In other BB&T Corporation news, insider Clarke R. Starnes III sold 53,594 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $43.37, for a total value of $2,324,371.78. Following the completion of the transaction, the insider now owns 131,350 shares of the company’s stock, valued at approximately $5,696,649.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
BB&T Corporation Company Profile
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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