First Merchants Corp boosted its position in BB&T Corp. (NYSE:BBT) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,639 shares of the company’s stock after buying an additional 18,616 shares during the period. First Merchants Corp’s holdings in BB&T Corp. were worth $2,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. HL Financial Services LLC increased its stake in shares of BB&T Corp. by 12.5% in the second quarter. HL Financial Services LLC now owns 57,466 shares of the company’s stock worth $2,046,000 after buying an additional 6,379 shares during the period. Douglas Lane & Associates LLC increased its stake in shares of BB&T Corp. by 26.5% in the second quarter. Douglas Lane & Associates LLC now owns 874,186 shares of the company’s stock worth $31,130,000 after buying an additional 182,960 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of BB&T Corp. by 0.4% in the second quarter. Rehmann Capital Advisory Group now owns 21,326 shares of the company’s stock worth $759,000 after buying an additional 80 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of BB&T Corp. by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 53,900 shares of the company’s stock worth $1,919,000 after buying an additional 1,700 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of BB&T Corp. during the second quarter worth about $39,536,000. 63.03% of the stock is currently owned by hedge funds and other institutional investors.

BB&T Corp. (NYSE:BBT) traded down 0.34% on Tuesday, hitting $37.95. 3,043,335 shares of the stock traded hands. BB&T Corp. has a 12-month low of $29.95 and a 12-month high of $39.47. The firm’s 50-day moving average price is $37.81 and its 200-day moving average price is $35.73. The stock has a market cap of $30.91 billion, a price-to-earnings ratio of 14.65 and a beta of 0.99.

BB&T Corp. (NYSE:BBT) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. BB&T Corp. had a net margin of 20.11% and a return on equity of 9.12%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that BB&T Corp. will post $2.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a $0.30 dividend. The ex-dividend date was Wednesday, August 10th. This is a positive change from BB&T Corp.’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. BB&T Corp.’s payout ratio is currently 45.98%.

A number of analysts recently issued reports on the stock. Credit Suisse Group AG set a $42.00 price target on shares of BB&T Corp. and gave the stock a “buy” rating in a report on Wednesday, September 14th. Morgan Stanley reaffirmed a “hold” rating and set a $37.00 price objective on shares of BB&T Corp. in a report on Friday, August 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $40.00 price objective on shares of BB&T Corp. in a report on Friday, July 22nd. FBR & Co reaffirmed a “buy” rating and set a $45.00 price objective on shares of BB&T Corp. in a report on Friday, July 22nd. Finally, Stephens downgraded shares of BB&T Corp. from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. BB&T Corp. currently has an average rating of “Hold” and a consensus price target of $39.46.

In other BB&T Corp. news, Chairman Kelly S. King sold 162,415 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $38.25, for a total value of $6,212,373.75. Following the transaction, the chairman now directly owns 448,391 shares in the company, valued at approximately $17,150,955.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Barbara F. Duck sold 29,976 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $36.79, for a total transaction of $1,102,817.04. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

About BB&T Corp.

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