BB&T Corporation (BBT) Holdings Maintained by Logan Capital Management Inc.
Logan Capital Management Inc. held its stake in shares of BB&T Corporation (NYSE:BBT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,981 shares of the insurance provider’s stock at the close of the 2nd quarter. Logan Capital Management Inc.’s holdings in BB&T Corporation were worth $7,900,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Salem Investment Counselors Inc. boosted its position in shares of BB&T Corporation by 7.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 345,571 shares of the insurance provider’s stock valued at $15,692,000 after acquiring an additional 22,683 shares in the last quarter. Institute for Wealth Management LLC. bought a new stake in BB&T Corporation in the second quarter valued at about $260,000. Employees Retirement System of Texas raised its position in BB&T Corporation by 17.5% in the second quarter. Employees Retirement System of Texas now owns 47,000 shares of the insurance provider’s stock worth $2,134,000 after purchasing an additional 7,000 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in BB&T Corporation in the second quarter worth about $111,000. Finally, HighTower Advisors LLC raised its position in BB&T Corporation by 26.6% in the second quarter. HighTower Advisors LLC now owns 316,732 shares of the insurance provider’s stock worth $14,404,000 after purchasing an additional 66,625 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
BB&T Corporation (NYSE BBT) traded up 0.06% during midday trading on Monday, reaching $46.97. 1,220,274 shares of the company’s stock traded hands. BB&T Corporation has a 52-week low of $37.34 and a 52-week high of $49.88. The company has a market cap of $37.96 billion, a P/E ratio of 17.53 and a beta of 1.07. The stock has a 50-day moving average of $46.08 and a 200 day moving average of $44.85.
BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that BB&T Corporation will post $2.81 earnings per share for the current fiscal year.
BB&T Corporation announced that its board 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of research analysts have commented on the stock. BidaskClub upgraded shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. BMO Capital Markets reiterated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research note on Friday, July 21st. Hilliard Lyons lowered BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 14th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of BB&T Corporation in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. BB&T Corporation has an average rating of “Hold” and a consensus price target of $47.73.
In related news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value 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. Insiders have sold a total of 55,610 shares of company stock valued at $2,618,364 in the last three months. 0.36% of the stock is owned by insiders.
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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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