Birmingham Capital Management Co. Inc. AL maintained its position in shares of BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,309 shares of the insurance provider’s stock at the end of the second quarter. Birmingham Capital Management Co. Inc. AL’s holdings in BB&T Corporation were worth $332,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Jolley Asset Management LLC raised its position 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 during the period. Quadrant Capital Group LLC raised its position 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 during the period. Liberty Capital Management Inc. bought a new position in shares of BB&T Corporation during the second quarter valued at approximately $136,000. Guardian Life Insurance Co. of America raised its position 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 during the period. Finally, Pathstone Family Office LLC bought a new position in shares of BB&T Corporation during the first quarter valued at approximately $150,000. 64.45% of the stock is owned by hedge funds and other institutional investors.

BB&T Corporation (NYSE BBT) opened at 46.31 on Friday. The stock has a market capitalization of $37.42 billion, a P/E ratio of 17.29 and a beta of 1.07. BB&T Corporation has a 52 week low of $36.80 and a 52 week high of $49.88. The stock has a 50 day moving average of $46.10 and a 200 day moving average of $45.22.

BB&T Corporation (NYSE:BBT) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. On average, equities research analysts predict that BB&T Corporation will post $2.82 earnings per share for the current fiscal year.

BB&T Corporation declared that its Board of Directors has approved 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 usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed 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. This represents a $1.32 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, August 9th. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is presently 49.25%.

TRADEMARK VIOLATION WARNING: “Birmingham Capital Management Co. Inc. AL Continues to Hold Stake in BB&T Corporation (BBT)” was published by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.dailypolitical.com/2017/08/12/birmingham-capital-management-co-inc-al-continues-to-hold-stake-in-bbt-corporation-bbt.html.

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

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the 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 transaction, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were 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. 0.36% of the stock is currently owned by company 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.

Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Corporation (NYSE:BBT).

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

Receive News & Ratings for BB&T Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T Corporation and related companies with MarketBeat.com's FREE daily email newsletter.