State Board of Administration of Florida Retirement System lowered its stake in shares of BB&T Co. (NYSE:BBT) by 3.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,032,527 shares of the insurance provider’s stock after selling 31,720 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of BB&T worth $50,728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rossmore Private Capital boosted its position in shares of BB&T by 17.4% in the second quarter. Rossmore Private Capital now owns 18,658 shares of the insurance provider’s stock valued at $917,000 after acquiring an additional 2,760 shares during the period. 180 Wealth Advisors LLC acquired a new position in shares of BB&T in the second quarter valued at $412,000. GWM Advisors LLC raised its stake in shares of BB&T by 1.4% in the second quarter. GWM Advisors LLC now owns 36,727 shares of the insurance provider’s stock valued at $1,804,000 after purchasing an additional 514 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of BB&T by 3.3% in the second quarter. GHP Investment Advisors Inc. now owns 59,196 shares of the insurance provider’s stock valued at $2,908,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Whitener Capital Management Inc. raised its stake in shares of BB&T by 21.5% in the second quarter. Whitener Capital Management Inc. now owns 38,589 shares of the insurance provider’s stock valued at $1,895,000 after purchasing an additional 6,829 shares in the last quarter. 68.38% of the stock is owned by institutional investors.

BB&T stock traded down $0.02 during mid-day trading on Wednesday, hitting $46.03. 609,281 shares of the company were exchanged, compared to its average volume of 4,832,249. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average of $49.17 and a 200 day moving average of $49.20. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $53.08. The company has a market capitalization of $35.39 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts expect that BB&T Co. will post 4.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.80 annualized dividend and a yield of 3.91%. BB&T’s dividend payout ratio is currently 44.44%.

In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total transaction of $120,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Hudson Weaver sold 21,705 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

A number of research analysts recently commented on BBT shares. Wells Fargo & Co set a $55.00 target price on BB&T and gave the company a “buy” rating in a research note on Friday, August 16th. UBS Group cut their target price on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley set a $51.00 target price on BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $53.95.

BB&T Company Profile

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

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

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