Ameriprise Financial Inc. grew its position in shares of BB&T Corporation (NYSE:BBT) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,819,041 shares of the insurance provider’s stock after buying an additional 31,922 shares during the period. Ameriprise Financial Inc. owned approximately 0.60% of BB&T Corporation worth $218,841,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Community Bank N.A. increased its position in BB&T Corporation by 6.2% during the 2nd quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after buying an additional 144 shares during the period. Liberty Capital Management Inc. bought a new position in BB&T Corporation during the 2nd quarter worth $136,000. Oakworth Capital Inc. increased its position in BB&T Corporation by 51.1% during the 2nd quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after buying an additional 1,045 shares during the period. Guardian Life Insurance Co. of America increased its position in BB&T Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the period. Finally, Pathstone Family Office LLC bought a new position in BB&T Corporation during the 1st quarter worth $150,000. Hedge funds and other institutional investors own 64.30% of the company’s stock.

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In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction dated 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 sold a total of 55,610 shares of company stock worth $2,618,364 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

BB&T Corporation (NYSE BBT) opened at 43.94 on Friday. BB&T Corporation has a 52-week low of $36.80 and a 52-week high of $49.88. The company has a market cap of $35.51 billion, a PE ratio of 17.86 and a beta of 1.08. The firm has a 50-day moving average price of $46.31 and a 200-day moving average price of $45.00.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The business 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 company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. On average, analysts forecast that BB&T Corporation will post $2.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a $0.33 dividend. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, August 9th. BB&T Corporation’s dividend payout ratio is currently 49.25%.

BB&T Corporation declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

BBT has been the topic of several recent research reports. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. BMO Capital Markets reiterated a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 21st. Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Friday, July 21st. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 14th. Finally, Robert W. Baird reiterated a “hold” rating and set a $45.00 price objective on shares of BB&T Corporation in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.06.

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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