Univest Corp of Pennsylvania raised its stake in BB&T Corporation (NYSE:BBT) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,061 shares of the insurance provider’s stock after buying an additional 727 shares during the period. BB&T Corporation makes up about 1.7% of Univest Corp of Pennsylvania’s investment portfolio, making the stock its 21st largest position. Univest Corp of Pennsylvania’s holdings in BB&T Corporation were worth $4,090,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Ronald Blue & Co. LLC increased its position in shares of BB&T Corporation by 11.6% in the second quarter. Ronald Blue & Co. LLC now owns 8,480 shares of the insurance provider’s stock valued at $385,000 after buying an additional 881 shares during the period. Barnett & Company Inc. increased its position in shares of BB&T Corporation by 25.6% in the second quarter. Barnett & Company Inc. now owns 4,176 shares of the insurance provider’s stock valued at $190,000 after buying an additional 851 shares during the period. Daiwa Securities Group Inc. increased its position in shares of BB&T Corporation by 2.9% in the second quarter. Daiwa Securities Group Inc. now owns 23,150 shares of the insurance provider’s stock valued at $1,051,000 after buying an additional 650 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in shares of BB&T Corporation during the second quarter valued at $1,267,000. Finally, CAPROCK Group Inc. increased its position 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 valued at $1,100,000 after buying an additional 105 shares during the period. 64.45% of the stock is owned by institutional investors.

Shares of BB&T Corporation (BBT) opened at 46.31 on Friday. The firm has a market capitalization of $37.42 billion, a PE ratio of 17.29 and a beta of 1.07. The firm’s 50 day moving average is $46.10 and its 200-day moving average is $45.22. BB&T Corporation has a one year low of $36.80 and a one year high of $49.88.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. 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 has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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

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Several brokerages have recently weighed in on BBT. BidaskClub upgraded shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. 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 research note on Friday, August 4th. Wells Fargo & Company began coverage on shares of BB&T Corporation in a research note on Wednesday. They issued a “market perform” rating and a $44.00 target price for the company. FBR & Co restated a “hold” rating on shares of BB&T Corporation in a research note on Friday, April 21st. Finally, BMO Capital Markets restated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $47.19.

In related news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the transaction, the executive vice president now directly owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction dated 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 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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