BB&T Corporation (BBT) Shares Bought by Associated Banc Corp
Associated Banc Corp increased its position in BB&T Corporation (NYSE:BBT) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,034 shares of the insurance provider’s stock after buying an additional 1,842 shares during the quarter. Associated Banc Corp’s holdings in BB&T were worth $5,258,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in BBT. Signature Estate & Investment Advisors LLC purchased a new stake in shares of BB&T during the second quarter valued at $111,000. Community Bank N.A. lifted its holdings in shares of BB&T by 6.2% during the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T during the second quarter valued at $136,000. Oakworth Capital Inc. lifted its holdings in shares of BB&T by 51.1% during the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Highstreet Asset Management Inc. lifted its holdings in shares of BB&T by 105.3% during the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock valued at $143,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 65.20% of the company’s stock.
Shares of BB&T Corporation (BBT) opened at $49.12 on Thursday. The stock has a market capitalization of $37,497.41, a PE ratio of 15.69, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. BB&T Corporation has a one year low of $41.17 and a one year high of $49.91.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.85 billion. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. analysts predict that BB&T Corporation will post 3.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, November 9th. BB&T’s dividend payout ratio is currently 49.07%.
In other BB&T news, insider Christopher L. Henson sold 42,233 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.56, for a total value of $2,008,601.48. Following the transaction, the insider now directly owns 207,620 shares of the company’s stock, valued at approximately $9,874,407.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Donta L. Wilson sold 4,250 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.51, for a total value of $201,917.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,351 shares of company stock valued at $8,207,790. Company insiders own 0.36% of the company’s stock.
Several equities research analysts have recently commented on BBT shares. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Morgan Stanley upped their target price on BB&T from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 20th. Citigroup reaffirmed a “neutral” rating and set a $49.00 target price (up from $47.00) on shares of BB&T in a report on Monday, October 9th. SunTrust Banks reaffirmed a “buy” rating and set a $52.00 target price on shares of BB&T in a report on Friday, October 20th. Finally, Stephens raised BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 target price for the company in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. BB&T currently has an average rating of “Hold” and a consensus price target of $49.17.
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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