Capital Fund Management S.A. Has $1.69 Million Position in BB&T Co. (BBT)
Capital Fund Management S.A. boosted its position in BB&T Co. (NYSE:BBT) by 78.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,798 shares of the insurance provider’s stock after buying an additional 15,345 shares during the period. Capital Fund Management S.A.’s holdings in BB&T were worth $1,689,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in BBT. Zions Bancorporation acquired a new position in shares of BB&T during the third quarter valued at about $102,000. IMA Wealth Inc. acquired a new position in shares of BB&T during the second quarter valued at about $116,000. Girard Partners LTD. acquired a new position in shares of BB&T during the third quarter valued at about $142,000. SRS Capital Advisors Inc. raised its holdings in shares of BB&T by 4,311.8% during the third 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 period. Finally, ClariVest Asset Management LLC acquired a new position in shares of BB&T during the second quarter valued at about $167,000. Institutional investors and hedge funds own 63.83% of the company’s stock.
In other BB&T news, Director I. Patricia Henry sold 611 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the completion of the sale, the director now directly owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nido R. Qubein sold 2,825 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $50.19, for a total transaction of $141,786.75. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.
BB&T (NYSE:BBT) last posted its earnings results on Thursday, October 18th. The insurance provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts predict that BB&T Co. will post 4.05 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $1.62 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Thursday, November 8th. BB&T’s payout ratio is presently 51.59%.
BBT has been the topic of several research reports. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Wednesday, October 3rd. B. Riley set a $56.00 price objective on shares of BB&T and gave the company a “buy” rating in a report on Monday, October 15th. Finally, BMO Capital Markets dropped their price objective on shares of BB&T from $58.00 to $57.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.50.
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.
Read More: Bond
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.