Tower Bridge Advisors lessened its holdings in BB&T Co. (NYSE:BBT) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 300,750 shares of the insurance provider’s stock after selling 6,564 shares during the quarter. BB&T accounts for 1.7% of Tower Bridge Advisors’ investment portfolio, making the stock its 14th largest holding. Tower Bridge Advisors’ holdings in BB&T were worth $13,028,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BBT. Financial Advantage Inc. purchased a new position in shares of BB&T during the fourth quarter valued at about $27,000. Destination Wealth Management increased its position in shares of BB&T by 375.0% during the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after buying an additional 570 shares during the period. Transamerica Financial Advisors Inc. increased its position in shares of BB&T by 620.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 807 shares of the insurance provider’s stock valued at $35,000 after buying an additional 695 shares during the period. IMS Capital Management purchased a new position in shares of BB&T during the third quarter valued at about $39,000. Finally, We Are One Seven LLC purchased a new position in shares of BB&T during the fourth quarter valued at about $39,000. Institutional investors own 64.39% of the company’s stock.

In other BB&T news, Director Patrick C. Graney III acquired 4,200 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were acquired at an average price of $47.56 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.51% of the company’s stock.

NYSE:BBT traded down $0.44 during mid-day trading on Tuesday, hitting $50.26. 1,557,675 shares of the company’s stock were exchanged, compared to its average volume of 6,176,667. BB&T Co. has a one year low of $40.68 and a one year 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 firm has a market capitalization of $39.07 billion, a P/E ratio of 12.41, a PEG ratio of 1.21 and a beta of 1.12.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, January 17th. The insurance provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. BB&T’s quarterly revenue was up .5% on a year-over-year basis. On average, equities research analysts expect that BB&T Co. will post 4.34 earnings per share for the current fiscal year.

The firm 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 payout ratio is currently 40.00%.

Several equities analysts recently issued reports on BBT shares. Barclays boosted their price target on shares of BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 2nd. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Bank of America cut shares of BB&T from a “buy” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research report on Thursday, January 10th. They noted that the move was a valuation call. Finally, Deutsche Bank cut shares of BB&T from a “buy” rating to a “hold” rating and set a $49.08 price target on the stock. in a research report on Friday, January 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.96.

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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.

See Also: Cost of Equity

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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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