Letko Brosseau & Associates Inc. Sells 34,335 Shares of BB&T Co. (BBT)
Letko Brosseau & Associates Inc. cut its holdings in BB&T Co. (NYSE:BBT) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 973,635 shares of the insurance provider’s stock after selling 34,335 shares during the period. Letko Brosseau & Associates Inc.’s holdings in BB&T were worth $47,260,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation acquired a new position in BB&T in the 3rd quarter valued at about $102,000. IMA Wealth Inc. acquired a new position in BB&T in the 2nd quarter valued at about $116,000. SRS Capital Advisors Inc. raised its stake in BB&T by 4,311.8% in the 3rd quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 2,932 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in BB&T in the 2nd quarter valued at about $167,000. Finally, Whittier Trust Co. raised its stake in BB&T by 591.3% in the 2nd quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 3,678 shares during the last quarter. Institutional investors and hedge funds own 63.83% of the company’s stock.
Several research analysts recently weighed in on BBT shares. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, October 3rd. BMO Capital Markets dropped their price objective on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Finally, B. Riley set a $56.00 price objective on shares of BB&T and gave the company a “buy” rating in a research note on Monday, October 15th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.50.
Shares of NYSE:BBT opened at $51.41 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. BB&T Co. has a 1 year low of $45.93 and a 1 year high of $56.31. The stock has a market cap of $39.62 billion, a PE ratio of 16.37, a PEG ratio of 1.21 and a beta of 0.94.
BB&T (NYSE:BBT) last issued its earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. BB&T had a return on equity of 11.66% and a net margin of 23.52%. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that BB&T Co. will post 4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be issued a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Thursday, November 8th. BB&T’s dividend payout ratio is presently 51.59%.
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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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