Cadence Bank NA reduced its stake in BB&T Corporation (NYSE:BBT) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,370 shares of the insurance provider’s stock after selling 8 shares during the period. Cadence Bank NA’s holdings in BB&T Corporation were worth $1,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in BB&T Corporation by 2.9% in the second quarter. Daiwa Securities Group Inc. now owns 23,150 shares of the insurance provider’s stock valued at $1,051,000 after buying an additional 650 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in BB&T Corporation during the second quarter valued at about $1,267,000. CAPROCK Group Inc. raised its position in BB&T Corporation by 0.4% in the second quarter. CAPROCK Group Inc. now owns 24,222 shares of the insurance provider’s stock valued at $1,100,000 after buying an additional 105 shares during the period. CIBC Asset Management Inc raised its position in BB&T Corporation by 0.8% in the second quarter. CIBC Asset Management Inc now owns 80,335 shares of the insurance provider’s stock valued at $3,648,000 after buying an additional 659 shares during the period. Finally, Cardinal Capital Management raised its position in BB&T Corporation by 4.9% in the second quarter. Cardinal Capital Management now owns 89,885 shares of the insurance provider’s stock valued at $4,082,000 after buying an additional 4,210 shares during the period. 64.45% of the stock is owned by hedge funds and other institutional investors.

Shares of BB&T Corporation (NYSE BBT) opened at 46.31 on Friday. The stock’s 50 day moving average is $46.10 and its 200 day moving average is $45.22. BB&T Corporation has a 1-year low of $36.80 and a 1-year high of $49.88. 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 announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts anticipate that BB&T Corporation will post $2.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio is currently 49.25%.

BB&T Corporation declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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Several brokerages have weighed in on BBT. Wells Fargo & Company began coverage on shares of BB&T Corporation in a research note on Wednesday. They set a “market perform” rating and a $44.00 price objective on the stock. BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research note on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research note on Friday, July 21st. Finally, Hilliard Lyons cut shares of 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.19.

In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Corporate 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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