M&T Bank Corp decreased its stake in shares of BB&T Corporation (NYSE:BBT) by 7.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,148 shares of the insurance provider’s stock after selling 22,637 shares during the quarter. M&T Bank Corp’s holdings in BB&T Corporation were worth $12,948,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Glassman Wealth Services lifted its position in BB&T Corporation by 0.4% during the second quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock worth $216,000 after buying an additional 18 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in BB&T Corporation by 0.7% during the first 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 in the last quarter. WMS Partners LLC lifted its position in BB&T Corporation by 0.8% during the second quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock worth $206,000 after buying an additional 36 shares in the last quarter. Canal Capital Management LLC lifted its position in BB&T Corporation by 0.6% during the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares in the last quarter. Finally, Sandy Spring Bank lifted its position in BB&T Corporation by 0.8% during the second quarter. Sandy Spring Bank now owns 11,100 shares of the insurance provider’s stock worth $504,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

A number of brokerages recently commented on BBT. 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 downgraded 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, Wells Fargo & Company began coverage on BB&T Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. BB&T Corporation currently has an average rating of “Hold” and an average price target of $47.06.

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In related news, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Hudson Weaver sold 8,752 shares of the stock in a transaction on Wednesday, August 16th. The shares were 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. Over the last quarter, insiders sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is owned by insiders.

Shares of BB&T Corporation (NYSE:BBT) traded down 0.210% during midday trading on Friday, hitting $45.145. The stock had a trading volume of 550,149 shares. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88. The stock has a market cap of $36.48 billion, a P/E ratio of 18.352 and a beta of 1.08. The stock has a 50-day moving average price of $46.08 and a 200-day moving average price of $44.85.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share 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 for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company posted $0.71 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that BB&T Corporation will post $2.81 earnings per share for the current year.

BB&T Corporation announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a $0.33 dividend. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.92%. 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 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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