BB&T Corporation (NYSE:BBT) Stake Held by Peoples Bank OH
Peoples Bank OH continued to hold its position in BB&T Corporation (NYSE:BBT) during the second quarter, Holdings Channel reports. The institutional investor owned 12,216 shares of the insurance provider’s stock at the end of the second quarter. Peoples Bank OH’s holdings in BB&T Corporation were worth $554,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock worth $2,115,732,000 after buying an additional 45,740,906 shares during the period. Vanguard Group Inc. boosted its stake in shares of BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after buying an additional 1,656,297 shares during the period. Janus Capital Management LLC boosted its stake in shares of BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock worth $149,021,000 after buying an additional 1,062,590 shares during the period. FMR LLC boosted its stake in shares of BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after buying an additional 998,898 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock worth $73,405,000 after buying an additional 966,962 shares during the period. Institutional investors own 64.45% of the company’s stock.
BB&T Corporation (NYSE:BBT) opened at 46.31 on Friday. BB&T Corporation has a 52 week low of $36.80 and a 52 week high of $49.88. The stock’s 50 day moving average is $46.10 and its 200 day moving average is $45.22. The company has a market capitalization of $37.42 billion, a PE ratio of 17.29 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. Analysts predict that BB&T Corporation will post $2.82 EPS for the current fiscal year.
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 issued a dividend of $0.33 per share. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. BB&T Corporation’s payout ratio is currently 49.25%.
BB&T Corporation announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $1.88 billion in shares. This buyback authorization permits the insurance provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of brokerages have recently commented on BBT. BidaskClub raised BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target for the company in a research note on Friday, August 4th. Wells Fargo & Company began coverage on BB&T Corporation in a research note on Wednesday. They issued a “market perform” rating and a $44.00 price target for the company. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a research note 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 research note on Friday, July 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The company presently 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 the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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 owns 34,887 shares in the company, valued at $1,642,131.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. 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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