MCF Advisors LLC boosted its position in shares of BB&T Corporation (NYSE:BBT) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 73,498 shares of the insurance provider’s stock after buying an additional 726 shares during the period. BB&T Corporation makes up approximately 0.7% of MCF Advisors LLC’s portfolio, making the stock its 17th largest position. MCF Advisors LLC’s holdings in BB&T Corporation were worth $3,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 worth $2,422,504,000 after buying an additional 1,656,297 shares during the last quarter. BlackRock Inc. boosted its position 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 worth $2,115,732,000 after buying an additional 45,740,906 shares during the last quarter. First Eagle Investment Management LLC boosted its position 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 worth $698,152,000 after buying an additional 403,087 shares during the last quarter. Bank of America Corp DE boosted its position 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 worth $570,655,000 after buying an additional 43,867 shares during the last quarter. Finally, American Century Companies Inc. boosted its position 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 worth $388,144,000 after buying an additional 489,519 shares during the last quarter. Institutional investors own 64.45% of the company’s stock.

Shares of BB&T Corporation (BBT) traded up 1.04% during mid-day trading on Tuesday, hitting $48.66. The stock had a trading volume of 1,159,413 shares. The firm has a market capitalization of $39.32 billion, a price-to-earnings ratio of 18.16 and a beta of 1.07. The stock’s 50-day moving average is $45.29 and its 200 day moving average is $45.09. BB&T Corporation has a 1-year low of $36.45 and a 1-year high of $49.88.

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

BB&T Corporation declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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

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BBT has been the subject of a number of research reports. BidaskClub upgraded BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. FBR & Co restated a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Jefferies Group LLC restated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a report on Friday, July 14th. Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating in a report on Friday. Finally, Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $51.00 to $49.00 in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. BB&T Corporation has a consensus rating of “Hold” and a consensus price target of $47.43.

In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the transaction, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.

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

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