Moors & Cabot Inc. Boosts Position in BB&T Co. (BBT)
Moors & Cabot Inc. boosted its stake in shares of BB&T Co. (NYSE:BBT) by 33.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,744 shares of the insurance provider’s stock after buying an additional 10,993 shares during the quarter. Moors & Cabot Inc.’s holdings in BB&T were worth $2,178,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Heartland Advisors Inc. grew its position in BB&T by 0.5% during the fourth quarter. Heartland Advisors Inc. now owns 206,738 shares of the insurance provider’s stock valued at $10,279,000 after buying an additional 952 shares during the period. Bessemer Group Inc. grew its position in BB&T by 14.3% during the fourth quarter. Bessemer Group Inc. now owns 7,712 shares of the insurance provider’s stock valued at $383,000 after buying an additional 962 shares during the period. Mcmillion Capital Management Inc. grew its position in BB&T by 1.3% during the fourth quarter. Mcmillion Capital Management Inc. now owns 80,869 shares of the insurance provider’s stock valued at $4,021,000 after buying an additional 1,015 shares during the period. Bank of Hawaii grew its position in BB&T by 7.5% during the fourth quarter. Bank of Hawaii now owns 15,044 shares of the insurance provider’s stock valued at $748,000 after buying an additional 1,044 shares during the period. Finally, Strategic Financial Services Inc grew its position in BB&T by 1.0% during the third quarter. Strategic Financial Services Inc now owns 113,445 shares of the insurance provider’s stock valued at $5,325,000 after buying an additional 1,085 shares during the period. Institutional investors own 63.08% of the company’s stock.
A number of equities analysts have weighed in on BBT shares. Citigroup upgraded shares of BB&T from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Tuesday, January 9th. Morgan Stanley upgraded shares of BB&T from an “underweight” rating to an “equal weight” rating and set a $50.00 target price for the company in a research report on Monday, January 8th. Raymond James Financial upgraded shares of BB&T from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $53.00 target price on shares of BB&T in a research report on Tuesday, January 9th. Finally, ValuEngine upgraded shares of BB&T from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. BB&T presently has a consensus rating of “Hold” and a consensus price target of $53.81.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.04. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.86 billion. BB&T had a net margin of 19.25% and a return on equity of 9.93%. BB&T’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. equities analysts anticipate that BB&T Co. will post 3.93 EPS for the current fiscal year.
The business also recently announced a None dividend, which will be paid on Tuesday, March 20th. Investors of record on Tuesday, March 6th will be paid a $0.045 dividend. This represents a yield of 2.37%. The ex-dividend date of this dividend is Monday, March 5th. BB&T’s dividend payout ratio is currently 48.18%.
In related news, insider Cynthia B. Powell sold 8,929 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $54.51, for a total value of $486,719.79. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kelly S. King sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $54.68, for a total transaction of $3,280,800.00. The disclosure for this sale can be found here. Insiders sold 167,253 shares of company stock worth $9,160,474 over the last ninety days. 0.36% of the stock is currently owned by insiders.
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BB&T 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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