Mcrae Capital Management Inc. boosted its stake in shares of BB&T Corporation (NYSE:BBT) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,968 shares of the insurance provider’s stock after buying an additional 10,703 shares during the period. BB&T Corporation comprises approximately 3.1% of Mcrae Capital Management Inc.’s holdings, making the stock its 15th largest position. Mcrae Capital Management Inc.’s holdings in BB&T Corporation were worth $7,627,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Jolley Asset Management LLC increased its stake in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock valued at $112,000 after buying an additional 25 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock valued at $135,000 after buying an additional 79 shares in the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T Corporation during the second quarter valued at approximately $136,000. Guardian Life Insurance Co. of America increased its stake in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new stake in shares of BB&T Corporation during the first quarter valued at approximately $150,000. Institutional investors own 64.45% of the company’s stock.

Shares of BB&T Corporation (NYSE BBT) opened at 46.68 on Friday. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88. The stock has a 50 day moving average price of $46.02 and a 200-day moving average price of $45.21. The company has a market capitalization of $37.72 billion, a PE ratio of 17.42 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting 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 firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts expect that BB&T Corporation will post $2.82 EPS for the current year.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.83%. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.25%.

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Several brokerages have recently commented on BBT. BMO Capital Markets restated a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a research note on Friday, June 30th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th. BidaskClub upgraded shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Friday, July 21st. Finally, Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. BB&T Corporation presently has an average rating of “Hold” and an average target price of $47.19.

In other news, EVP William Rufus Yates sold 28,515 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction dated 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. 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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Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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