BB&T Co. (BBT) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. raised its stake in BB&T Co. (NYSE:BBT) by 8.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,910 shares of the insurance provider’s stock after buying an additional 1,116 shares during the quarter. Wetherby Asset Management Inc.’s holdings in BB&T were worth $741,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. First Eagle Investment Management LLC increased its holdings in BB&T by 3.3% in the third quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock valued at $783,870,000 after buying an additional 541,257 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in BB&T by 9.8% in the fourth quarter. Bank of New York Mellon Corp now owns 9,689,965 shares of the insurance provider’s stock valued at $481,786,000 after buying an additional 860,902 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in BB&T by 0.3% in the third quarter. Burgundy Asset Management Ltd. now owns 8,382,444 shares of the insurance provider’s stock valued at $393,472,000 after buying an additional 27,138 shares in the last quarter. American Century Companies Inc. increased its holdings in BB&T by 2.5% in the fourth quarter. American Century Companies Inc. now owns 8,318,669 shares of the insurance provider’s stock valued at $413,604,000 after buying an additional 201,669 shares in the last quarter. Finally, Boston Partners increased its holdings in BB&T by 0.9% in the fourth quarter. Boston Partners now owns 5,957,183 shares of the insurance provider’s stock valued at $296,191,000 after buying an additional 55,665 shares in the last quarter. 65.19% of the stock is owned by institutional investors.
A number of research analysts have issued reports on BBT shares. Zacks Investment Research raised shares of BB&T from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $53.00 target price on shares of BB&T in a report on Tuesday, January 9th. Barclays increased their target price on shares of BB&T from $51.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Vining Sparks reaffirmed a “buy” rating and issued a $59.00 target price on shares of BB&T in a report on Monday, January 8th. Finally, Raymond James Financial raised shares of BB&T from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 9th. Fifteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.52.
BB&T (NYSE:BBT) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BB&T had a net margin of 19.25% and a return on equity of 9.93%. BB&T’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. equities analysts anticipate that BB&T Co. will post 3.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $1.32 annualized dividend and a yield of 2.40%. BB&T’s payout ratio is currently 48.18%.
In other BB&T news, insider Donna C. Goodrich sold 10,799 shares of BB&T stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $46.77, for a total value of $505,069.23. Following the completion of the sale, the insider now directly owns 47,182 shares of the company’s stock, valued at approximately $2,206,702.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nido R. Qubein sold 21,025 shares of BB&T stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $54.50, for a total transaction of $1,145,862.50. Following the completion of the sale, the director now directly owns 59,513 shares of the company’s stock, valued at $3,243,458.50. The disclosure for this sale can be found here. Insiders sold a total of 152,923 shares of company stock valued at $8,274,322 over the last ninety days. 0.36% of the stock is owned by corporate insiders.
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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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