BB&T Co. (BBT) Position Boosted by Caxton Associates LP
Caxton Associates LP increased its stake in BB&T Co. (NYSE:BBT) by 60.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,686 shares of the insurance provider’s stock after buying an additional 4,795 shares during the period. Caxton Associates LP’s holdings in BB&T were worth $550,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Wellington Shields Capital Management LLC lifted its stake in BB&T by 3.3% in the fourth quarter. Wellington Shields Capital Management LLC now owns 6,970 shares of the insurance provider’s stock valued at $302,000 after buying an additional 220 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in BB&T by 1.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,505 shares of the insurance provider’s stock valued at $585,000 after buying an additional 231 shares during the period. Van ECK Associates Corp lifted its stake in BB&T by 2.0% in the fourth quarter. Van ECK Associates Corp now owns 12,400 shares of the insurance provider’s stock valued at $537,000 after buying an additional 238 shares during the period. Cornerstone Advisors Inc. lifted its stake in BB&T by 19.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,468 shares of the insurance provider’s stock valued at $71,000 after buying an additional 240 shares during the period. Finally, Reynders McVeigh Capital Management LLC lifted its stake in BB&T by 0.9% in the third quarter. Reynders McVeigh Capital Management LLC now owns 32,960 shares of the insurance provider’s stock valued at $1,600,000 after buying an additional 280 shares during the period. 63.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director I. Patricia Henry sold 2,289 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $51.51, for a total transaction of $117,906.39. Following the completion of the sale, the director now owns 4,543 shares in the company, valued at $234,009.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick C. Graney III purchased 3,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were bought at an average price of $51.04 per share, with a total value of $198,545.60. Following the acquisition, the director now directly owns 11,456 shares of the company’s stock, valued at approximately $584,714.24. The disclosure for this purchase can be found here. Corporate insiders own 0.51% of the company’s stock.
Shares of BB&T stock opened at $49.98 on Friday. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $56.03. The firm has a market cap of $38.16 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.21 and a beta of 1.15. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.87.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. BB&T’s revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that BB&T Co. will post 4.29 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Wednesday, February 13th were issued a dividend of $0.405 per share. The ex-dividend date was Tuesday, February 12th. This represents a $1.62 annualized dividend and a yield of 3.24%. BB&T’s dividend payout ratio (DPR) is currently 40.00%.
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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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