Palladium Partners LLC lowered its stake in BB&T Corporation (NYSE:BBT) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 131,433 shares of the insurance provider’s stock after selling 2,259 shares during the period. Palladium Partners LLC’s holdings in BB&T Corporation were worth $5,969,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of BB&T Corporation by 3.4% in the first quarter. Legal & General Group Plc now owns 3,892,901 shares of the insurance provider’s stock valued at $174,020,000 after buying an additional 126,549 shares during the last quarter. Heritage Trust Co bought a new position in BB&T Corporation during the first quarter valued at about $2,371,000. Peapack Gladstone Financial Corp boosted its position in BB&T Corporation by 4.8% in the first quarter. Peapack Gladstone Financial Corp now owns 270,317 shares of the insurance provider’s stock valued at $12,083,000 after buying an additional 12,302 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in BB&T Corporation by 47.5% in the first quarter. Glen Harbor Capital Management LLC now owns 23,426 shares of the insurance provider’s stock valued at $1,047,000 after buying an additional 7,548 shares in the last quarter. Finally, HRT Financial LLC boosted its position in BB&T Corporation by 26.2% in the first quarter. HRT Financial LLC now owns 9,179 shares of the insurance provider’s stock valued at $410,000 after buying an additional 1,908 shares in the last quarter. 64.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BB&T Corporation (NYSE:BBT) opened at 46.99 on Wednesday. BB&T Corporation has a one year low of $36.75 and a one year high of $49.88. The company has a 50-day moving average of $46.31 and a 200-day moving average of $45.20. The company has a market capitalization of $37.97 billion, a PE ratio of 17.54 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. On average, analysts anticipate that BB&T Corporation will post $2.84 earnings per share for the current year.

BB&T Corporation declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.88 billion in shares. This repurchase authorization permits the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is 49.25%.

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Several research firms have issued reports on BBT. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Wells Fargo & Company began coverage on BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 price target on the stock. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target on the stock in a report on Friday, August 4th. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $49.00 price target on shares of BB&T Corporation in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.19.

In other news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation 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 transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

About BB&T Corporation

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

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