BB&T (BBT) Upgraded to Buy by Bank of America
Bank of America upgraded shares of BB&T (NYSE:BBT) from a neutral rating to a buy rating in a report issued on Friday morning, Marketbeat Ratings reports. Bank of America currently has $50.46 price objective on the insurance provider’s stock.
A number of other analysts also recently weighed in on BBT. Zacks Investment Research raised shares of BB&T from a hold rating to a buy rating and set a $55.00 price target for the company in a research report on Tuesday, October 23rd. ValuEngine raised shares of BB&T from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Argus reissued a buy rating on shares of BB&T in a research report on Friday, January 18th. Finally, B. Riley set a $56.00 price target on shares of BB&T and gave the stock a buy rating in a research report on Monday, October 15th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. BB&T currently has an average rating of Buy and an average target price of $54.04.
BBT stock opened at $50.24 on Friday. BB&T has a twelve month low of $40.68 and a twelve month high of $56.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $38.72 billion, a PE ratio of 12.40, a P/E/G ratio of 1.09 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 13th will be paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, February 12th. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
In other news, Director Patrick C. Graney III acquired 4,200 shares of BB&T stock in a transaction that occurred on Thursday, December 6th. The shares were purchased at an average cost of $47.56 per share, for a total transaction of $199,752.00. Following the completion of the purchase, the director now directly owns 4,200 shares of the company’s stock, valued at approximately $199,752. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in BB&T by 4.3% in the second quarter. Advisors Asset Management Inc. now owns 221,488 shares of the insurance provider’s stock valued at $11,172,000 after buying an additional 9,093 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in BB&T by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock valued at $527,666,000 after buying an additional 547,692 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in BB&T in the third quarter valued at $327,000. Atria Investments LLC lifted its stake in BB&T by 49.4% in the third quarter. Atria Investments LLC now owns 6,998 shares of the insurance provider’s stock valued at $340,000 after buying an additional 2,314 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in BB&T by 3.4% in the third quarter. State of Alaska Department of Revenue now owns 146,792 shares of the insurance provider’s stock valued at $7,124,000 after buying an additional 4,802 shares during the last quarter. Hedge funds and other institutional investors own 64.03% of the company’s stock.
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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