Wellington Shields Capital Management LLC continued to hold its position in shares of BB&T Corporation (NYSE:BBT) during the second quarter, Holdings Channel reports. The firm owned 6,750 shares of the insurance provider’s stock at the end of the second quarter. Wellington Shields Capital Management LLC’s holdings in BB&T Corporation were worth $307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock valued at $2,422,504,000 after buying an additional 1,656,297 shares during the period. BlackRock Inc. raised its stake in shares of BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after buying an additional 45,740,906 shares during the period. First Eagle Investment Management LLC raised its stake in shares of BB&T Corporation by 2.6% in the first quarter. First Eagle Investment Management LLC now owns 15,618,624 shares of the insurance provider’s stock valued at $698,152,000 after buying an additional 403,087 shares during the period. Bank of America Corp DE raised its stake in shares of BB&T Corporation by 0.3% in the first quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock valued at $570,655,000 after buying an additional 43,867 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of BB&T Corporation by 6.0% in the first quarter. American Century Companies Inc. now owns 8,683,308 shares of the insurance provider’s stock valued at $388,144,000 after buying an additional 489,519 shares during the period. 64.45% of the stock is owned by institutional investors and hedge funds.

BB&T Corporation (NYSE BBT) traded up 1.04% during mid-day trading on Tuesday, hitting $48.66. 1,159,357 shares of the company’s stock traded hands. The stock has a market cap of $39.32 billion, a PE ratio of 18.16 and a beta of 1.07. BB&T Corporation has a one year low of $36.45 and a one year high of $49.88. The firm’s 50-day moving average price is $45.29 and its 200-day moving average price is $45.09.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts forecast that BB&T Corporation will post $2.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.74%. BB&T Corporation’s payout ratio is currently 44.78%.

BB&T Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Several brokerages have weighed in on BBT. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating in a report on Friday. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Hilliard Lyons raised shares of BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the company from $51.00 to $49.00 in a report on Monday, April 24th. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.43.

In related news, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

About BB&T Corporation

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

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