Alliancebernstein L.P. boosted its stake in BB&T Corporation (NYSE:BBT) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,390,603 shares of the insurance provider’s stock after buying an additional 30,469 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of BB&T Corporation worth $63,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BBT. BlackRock Inc. lifted its position in BB&T Corporation by 2,875.1% in the 1st quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock worth $2,115,732,000 after buying an additional 45,740,906 shares in the last quarter. Vanguard Group Inc. lifted its position in BB&T Corporation by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after buying an additional 1,656,297 shares in the last quarter. Janus Capital Management LLC lifted its position in BB&T Corporation by 46.8% in the 1st quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock worth $149,021,000 after buying an additional 1,062,590 shares in the last quarter. FMR LLC lifted its position in BB&T Corporation by 214.8% in the 1st quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after buying an additional 998,898 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in BB&T Corporation by 143.2% in the 1st quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock worth $73,405,000 after buying an additional 966,962 shares in the last quarter. Institutional investors own 64.30% of the company’s stock.

In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’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 transaction of $865,606.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Hudson Weaver sold 8,752 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The disclosure for this sale can be found here. Insiders have sold a total of 55,610 shares of company stock worth $2,618,364 in the last three months. Corporate insiders own 0.36% of the company’s stock.

A number of research firms have recently weighed in on BBT. BidaskClub downgraded shares of BB&T Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a report on Friday, July 14th. Hilliard Lyons downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a report on Friday, July 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $48.00 price objective on shares of BB&T Corporation in a report on Friday, June 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $47.06.

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BB&T Corporation (NYSE BBT) opened at 44.71 on Thursday. The firm’s 50 day moving average price is $46.46 and its 200-day moving average price is $45.01. BB&T Corporation has a one year low of $36.80 and a one year high of $49.88. The firm has a market cap of $36.13 billion, a PE ratio of 18.17 and a beta of 1.08.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS. Equities analysts predict that BB&T Corporation will post $2.84 EPS for the current fiscal year.

BB&T Corporation declared that its Board of Directors has initiated a stock 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 generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were paid a dividend of $0.33 per share. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.95%. BB&T Corporation’s payout ratio is 49.25%.

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.

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

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