Cambiar Investors LLC lowered its stake in BB&T Corporation (NYSE:BBT) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 1,292,355 shares of the insurance provider’s stock after selling 12,587 shares during the period. Cambiar Investors LLC’s holdings in BB&T Corporation were worth $58,686,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jolley Asset Management LLC raised its position in 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 last quarter. Quadrant Capital Group LLC raised its position in 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 last quarter. Liberty Capital Management Inc. bought a new position in BB&T Corporation during the second quarter valued at about $136,000. Guardian Life Insurance Co. of America raised its position in 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 last quarter. Finally, Pathstone Family Office LLC bought a new position in BB&T Corporation during the first quarter valued at about $150,000. Institutional investors own 64.45% of the company’s stock.

BB&T Corporation (NYSE BBT) opened at 46.31 on Friday. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88. The stock’s 50 day moving average price is $46.10 and its 200 day moving average price is $45.22. The company has a market cap of $37.42 billion, a PE ratio of 17.29 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the 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 analysts’ expectations of $2.89 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that BB&T Corporation will post $2.82 EPS for the current year.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a yield of 2.85%. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is currently 49.25%.

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BBT has been the subject of several analyst reports. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. BMO Capital Markets restated a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 21st. Jefferies Group LLC restated a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T Corporation in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.19.

In related news, EVP William Rufus Yates sold 28,515 shares of the firm’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 of the company’s stock, valued at $1,642,131.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’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. Company 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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