IBM Retirement Fund raised its position in BB&T Corporation (NYSE:BBT) by 118.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,812 shares of the insurance provider’s stock after buying an additional 10,744 shares during the period. IBM Retirement Fund’s holdings in BB&T Corporation were worth $1,005,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. NGAM Advisors L.P. boosted its position in shares of BB&T Corporation by 3.8% in the second quarter. NGAM Advisors L.P. now owns 92,776 shares of the insurance provider’s stock worth $4,213,000 after buying an additional 3,414 shares during the last quarter. Eastern Bank boosted its position in shares of BB&T Corporation by 4.0% in the second quarter. Eastern Bank now owns 66,271 shares of the insurance provider’s stock worth $3,009,000 after buying an additional 2,566 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of BB&T Corporation by 2.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 14,641 shares of the insurance provider’s stock worth $665,000 after buying an additional 400 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of BB&T Corporation by 2.6% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,878 shares of the insurance provider’s stock worth $449,000 after buying an additional 250 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC acquired a new position in shares of BB&T Corporation during the second quarter worth approximately $454,000. 64.45% of the stock is owned by institutional investors and hedge funds.

Shares of BB&T Corporation (NYSE:BBT) opened at 47.69 on Thursday. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 17.80 and a beta of 1.07. The company’s 50-day moving average is $45.88 and its 200-day moving average is $45.18. BB&T Corporation has a one year low of $36.75 and a one year high of $49.88.

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

The firm also recently declared 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. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, August 9th. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio is currently 44.78%.

BB&T Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that allows the company to buyback $1.88 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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BBT has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on shares of BB&T Corporation in a report on Wednesday. They issued a “market perform” rating for the company. BidaskClub upgraded shares of BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a report on Friday, August 4th. BMO Capital Markets restated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 21st. Finally, Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. BB&T Corporation has a consensus rating of “Hold” and a consensus target price of $47.40.

In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the 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 available at this link. Also, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction dated 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 sale, the executive vice president now directly 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 currently owned by corporate insiders.

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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