Lockheed Martin Investment Management Co. acquired a new position in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,900 shares of the insurance provider’s stock, valued at approximately $1,267,000.

Several other large investors also recently made changes to their positions in BBT. Guardian Life Insurance Co. of America boosted its stake in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares in the last quarter. Jolley Asset Management LLC boosted its stake in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares in the last quarter. Canal Capital Management LLC boosted its stake in shares of BB&T Corporation by 0.6% in the second quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock worth $356,000 after buying an additional 48 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock worth $135,000 after buying an additional 79 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its stake in shares of BB&T Corporation by 1.1% in the first quarter. Cookson Peirce & Co. Inc. now owns 7,470 shares of the insurance provider’s stock worth $334,000 after buying an additional 80 shares in the last quarter. Institutional investors own 64.45% of the company’s stock.

BB&T Corporation (NYSE:BBT) opened at 46.31 on Friday. The firm has a market capitalization of $37.42 billion, a price-to-earnings ratio of 17.29 and a beta of 1.07. The firm has a 50-day moving average price of $46.10 and a 200-day moving average price of $45.22. BB&T Corporation has a one year low of $36.80 and a one year high of $49.88.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts expect that BB&T Corporation will post $2.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. BB&T Corporation’s payout ratio is presently 49.25%.

BB&T Corporation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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A number of equities research analysts recently weighed in on BBT shares. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. BMO Capital Markets restated a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Friday, July 21st. Jefferies Group LLC restated a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 14th. Finally, Wells Fargo & Company started coverage on BB&T Corporation in a research note on Wednesday. They issued a “market perform” rating and a $44.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $47.19.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the sale, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

BB&T Corporation Company Profile

BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.

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

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