BB&T (BBT) Receives “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of BB&T (NYSE:BBT) in a research report report published on Thursday. They currently have a $50.00 target price on the insurance provider’s stock.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of BB&T from a hold rating to a sell rating in a report on Tuesday, October 10th. Morgan Stanley boosted their price objective on shares of BB&T from $47.00 to $50.00 and gave the company an underweight rating in a research report on Friday, October 20th. BMO Capital Markets boosted their price objective on shares of BB&T from $48.00 to $49.00 and gave the company a market perform rating in a research report on Friday, October 20th. Robert W. Baird reissued a hold rating and issued a $45.00 target price on shares of BB&T in a research report on Friday, August 25th. Finally, Jefferies Group restated a hold rating and issued a $49.00 price objective on shares of BB&T in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $49.28.
BB&T (BBT) traded down $0.45 during trading on Thursday, reaching $48.97. 3,430,000 shares of the company’s stock were exchanged, compared to its average volume of 4,382,884. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $38,988.48, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. BB&T has a 52-week low of $41.17 and a 52-week high of $51.11.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, November 9th. BB&T’s payout ratio is 49.07%.
In related news, insider Donna C. Goodrich sold 10,799 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total transaction of $505,069.23. Following the transaction, the insider now directly owns 47,182 shares in the company, valued at approximately $2,206,702.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Kelly S. King sold 66,372 shares of BB&T stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $47.53, for a total value of $3,154,661.16. The disclosure for this sale can be found here. Insiders sold a total of 182,150 shares of company stock valued at $8,712,859 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.
A number of large investors have recently made changes to their positions in BBT. First Merchants Corp boosted its stake in shares of BB&T by 9.1% in the third quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock worth $3,790,000 after acquiring an additional 6,753 shares during the period. Shelter Mutual Insurance Co raised its position in BB&T by 145.5% during the second quarter. Shelter Mutual Insurance Co now owns 84,200 shares of the insurance provider’s stock valued at $3,823,000 after purchasing an additional 49,900 shares during the period. Pacer Advisors Inc. raised its position in BB&T by 8.3% during the second quarter. Pacer Advisors Inc. now owns 18,866 shares of the insurance provider’s stock valued at $857,000 after purchasing an additional 1,450 shares during the period. Motco raised its position in BB&T by 2.0% during the second quarter. Motco now owns 71,991 shares of the insurance provider’s stock valued at $3,269,000 after purchasing an additional 1,386 shares during the period. Finally, Newman Dignan & Sheerar Inc. raised its holdings in shares of BB&T by 11.1% in the second quarter. Newman Dignan & Sheerar Inc. now owns 22,146 shares of the insurance provider’s stock worth $1,006,000 after buying an additional 2,212 shares during the period. Institutional investors and hedge funds own 65.39% of the company’s stock.
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BB&T 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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