Arcus Capital Partners LLC continued to hold its stake in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,311 shares of the insurance provider’s stock at the end of the second quarter. BB&T Corporation comprises 1.0% of Arcus Capital Partners LLC’s holdings, making the stock its 14th largest position. Arcus Capital Partners LLC’s holdings in BB&T Corporation were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in BBT. Vanguard Group Inc. lifted its stake in shares of BB&T Corporation by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after buying an additional 1,325,018 shares during the last quarter. BlackRock Inc. lifted its stake in shares of BB&T Corporation by 0.8% during the 2nd quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock worth $2,166,682,000 after buying an additional 381,915 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of BB&T Corporation by 1.7% during the 2nd quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock worth $778,031,000 after buying an additional 291,257 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of BB&T Corporation by 3.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 16,158,157 shares of the insurance provider’s stock worth $733,742,000 after buying an additional 539,533 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of BB&T Corporation by 0.3% during the 1st quarter. Bank of America Corp DE now owns 12,766,336 shares of the insurance provider’s stock worth $570,655,000 after buying an additional 43,867 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Shares of BB&T Corporation (NYSE:BBT) traded down 0.68% during mid-day trading on Thursday, reaching $47.03. 897,076 shares of the company’s stock traded hands. The company has a market cap of $38.00 billion, a P/E ratio of 17.56 and a beta of 1.07. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88. The firm has a 50-day moving average of $45.77 and a 200 day moving average of $44.84.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts forecast that BB&T Corporation will post $2.81 EPS for the current year.

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

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In related news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the sale, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,610 shares of company stock worth $2,618,364. Insiders own 0.36% of the company’s stock.

A number of analysts have recently issued reports on BBT shares. Zacks Investment Research cut shares of BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of BB&T Corporation in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research note on Friday, September 15th. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a research note on Friday, August 4th. Finally, BidaskClub cut shares of BB&T Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. BB&T Corporation currently has a consensus rating of “Hold” and a consensus price target of $47.88.

BB&T Corporation 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.

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

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