Stony Point Wealth Management Inc. Takes $609,000 Position in BB&T (BBT)
Stony Point Wealth Management Inc. acquired a new stake in BB&T (NYSE:BBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,258 shares of the insurance provider’s stock, valued at approximately $609,000.
Several other large investors have also recently bought and sold shares of BBT. Quantbot Technologies LP acquired a new stake in shares of BB&T in the third quarter worth $870,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of BB&T in the third quarter worth $224,000. Chartwell Investment Partners LLC increased its position in shares of BB&T by 6.4% in the third quarter. Chartwell Investment Partners LLC now owns 181,905 shares of the insurance provider’s stock worth $8,538,000 after acquiring an additional 10,900 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of BB&T by 10.3% in the third quarter. Pacer Advisors Inc. now owns 20,816 shares of the insurance provider’s stock worth $977,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BB&T by 8.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,724 shares of the insurance provider’s stock worth $7,075,000 after acquiring an additional 11,692 shares in the last quarter. 63.75% of the stock is owned by institutional investors and hedge funds.
In other BB&T news, insider Clarke R. Starnes III sold 22,629 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.40, for a total transaction of $1,253,646.60. Following the transaction, the insider now directly owns 107,933 shares in the company, valued at approximately $5,979,488.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cynthia B. Powell sold 8,929 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $54.51, for a total transaction of $486,719.79. The disclosure for this sale can be found here. Insiders have sold a total of 170,078 shares of company stock worth $9,316,414 over the last quarter. 0.36% of the stock is currently owned by insiders.
BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. BB&T had a net margin of 19.25% and a return on equity of 9.93%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. equities research analysts predict that BB&T will post 3.92 earnings per share for the current fiscal year.
The business also recently disclosed a None dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Monday, March 5th. This represents a yield of 2.37%. BB&T’s dividend payout ratio (DPR) is 48.18%.
Several research firms have recently issued reports on BBT. Morgan Stanley increased their price objective on shares of BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. ValuEngine raised shares of BB&T from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Wednesday, February 28th. Oppenheimer reissued a “hold” rating on shares of BB&T in a research report on Thursday, January 18th. Finally, B. Riley reissued a “hold” rating and issued a $55.00 price objective on shares of BB&T in a research report on Thursday, January 18th. Sixteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $53.81.
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BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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