BB&T Co. (BBT) Stake Lifted by Arbor Investment Advisors LLC
Arbor Investment Advisors LLC lifted its holdings in shares of BB&T Co. (NYSE:BBT) by 2.6% in the 1st quarter, HoldingsChannel reports. The firm owned 79,688 shares of the insurance provider’s stock after acquiring an additional 2,011 shares during the period. BB&T comprises 1.2% of Arbor Investment Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Arbor Investment Advisors LLC’s holdings in BB&T were worth $3,708,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BBT. Norges Bank purchased a new position in shares of BB&T during the fourth quarter worth about $302,329,000. BlackRock Inc. lifted its position in BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock worth $2,321,062,000 after buying an additional 4,086,502 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in BB&T by 4,179.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,647,587 shares of the insurance provider’s stock worth $84,000 after buying an additional 3,562,345 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in BB&T by 46.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,561,520 shares of the insurance provider’s stock worth $240,925,000 after buying an additional 1,753,162 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in BB&T by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock worth $2,877,586,000 after buying an additional 939,154 shares during the last quarter. 65.12% of the stock is owned by institutional investors.
In other news, Director K. David Jr. Boyer sold 2,289 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total transaction of $118,043.73. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick C. Graney III purchased 3,890 shares of the stock in a transaction dated Thursday, February 28th. The shares were acquired at an average cost of $51.04 per share, for a total transaction of $198,545.60. Following the completion of the acquisition, the director now owns 11,456 shares of the company’s stock, valued at $584,714.24. The disclosure for this purchase can be found here. Corporate insiders own 0.49% of the company’s stock.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.98 billion. BB&T had a return on equity of 12.13% and a net margin of 24.15%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. On average, sell-side analysts anticipate that BB&T Co. will post 4.29 earnings per share for the current year.
A number of analysts recently weighed in on BBT shares. Barclays boosted their target price on BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 2nd. Deutsche Bank cut BB&T from a “buy” rating to a “hold” rating and set a $49.08 target price on the stock. in a research note on Friday, January 25th. Zacks Investment Research cut BB&T from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Bank of America cut BB&T from a “buy” rating to an “underperform” rating and set a $48.00 target price on the stock. in a research note on Thursday, January 10th. They noted that the move was a valuation call. Finally, ValuEngine cut BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.86.
ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/bbt-co-bbt-stake-lifted-by-arbor-investment-advisors-llc/2964439.html.
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.
Recommended Story: How to find the components of the quick ratio
Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.