State of New Jersey Common Pension Fund D held its stake in shares of BB&T Corporation (NYSE:BBT) during the second quarter, Holdings Channel reports. The fund owned 225,000 shares of the insurance provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in BB&T Corporation were worth $10,217,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Lockheed Martin Investment Management Co. bought a new stake in shares of BB&T Corporation during the second quarter worth $1,267,000. CAPROCK Group Inc. boosted its stake in shares of BB&T Corporation by 0.4% in the second quarter. CAPROCK Group Inc. now owns 24,222 shares of the insurance provider’s stock worth $1,100,000 after buying an additional 105 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of BB&T Corporation by 0.8% in the second quarter. CIBC Asset Management Inc now owns 80,335 shares of the insurance provider’s stock worth $3,648,000 after buying an additional 659 shares during the last quarter. Cardinal Capital Management boosted its stake in shares of BB&T Corporation by 4.9% in the second quarter. Cardinal Capital Management now owns 89,885 shares of the insurance provider’s stock worth $4,082,000 after buying an additional 4,210 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of BB&T Corporation by 3.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 652,510 shares of the insurance provider’s stock worth $29,630,000 after buying an additional 24,670 shares during the last quarter. 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 company’s 50-day moving average is $46.10 and its 200 day moving average is $45.22. The stock has a market capitalization of $37.42 billion, a PE ratio of 17.29 and a beta of 1.07. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88.

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 Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. BB&T Corporation’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. On average, analysts predict that BB&T Corporation will post $2.82 EPS for the current year.

BB&T Corporation announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 9th. BB&T Corporation’s payout ratio is 49.25%.

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BBT has been the subject of a number of research reports. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Wells Fargo & Company initiated coverage on shares of BB&T Corporation in a report on Wednesday. They issued a “market perform” rating and a $44.00 target price for the company. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 14th. Finally, Macquarie raised 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. 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 stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.19.

In other BB&T Corporation 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of the business’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 sale, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is currently 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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