Smith Salley & Associates Reduces Stake in BB&T Co. (BBT)
Smith Salley & Associates decreased its position in shares of BB&T Co. (NYSE:BBT) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,861 shares of the insurance provider’s stock after selling 8,114 shares during the quarter. BB&T makes up about 1.5% of Smith Salley & Associates’ portfolio, making the stock its 20th biggest holding. Smith Salley & Associates’ holdings in BB&T were worth $9,798,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation acquired a new position in shares of BB&T during the 3rd quarter valued at about $102,000. IMA Wealth Inc. acquired a new position in shares of BB&T during the 2nd quarter valued at about $116,000. SRS Capital Advisors Inc. boosted its position in shares of BB&T by 4,311.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 2,932 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of BB&T during the 2nd quarter valued at about $167,000. Finally, Bridgeworth LLC acquired a new position in shares of BB&T during the 2nd quarter valued at about $197,000. 64.96% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. B. Riley lowered their price target on shares of BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Stephens reaffirmed a “buy” rating and issued a $59.00 target price on shares of BB&T in a research report on Friday, July 20th. Finally, FIG Partners cut shares of BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. BB&T currently has an average rating of “Buy” and a consensus target price of $55.50.
Shares of BBT opened at $50.76 on Friday. The stock has a market cap of $38.65 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.25 and a beta of 0.94. BB&T Co. has a 1 year low of $45.73 and a 1 year high of $56.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. As a group, analysts predict that BB&T Co. will post 3.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.405 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a dividend yield of 3.19%. BB&T’s dividend payout ratio is presently 51.59%.
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.
Further Reading: Market Capitalization – What it Means for Investors
Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.