Cambridge Investment Research Advisors Inc. trimmed its holdings in BB&T Co. (NYSE:BBT) by 17.9% in the second quarter, Holdings Channel reports. The institutional investor owned 86,396 shares of the insurance provider’s stock after selling 18,785 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in BB&T were worth $4,358,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Unigestion Holding SA bought a new position in shares of BB&T in the second quarter valued at about $17,754,000. Strs Ohio raised its holdings in shares of BB&T by 3.3% in the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after buying an additional 29,812 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of BB&T by 19.2% in the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after buying an additional 81,234 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of BB&T by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 335,500 shares of the insurance provider’s stock valued at $16,923,000 after buying an additional 9,808 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of BB&T by 7.8% in the first quarter. Cubist Systematic Strategies LLC now owns 82,731 shares of the insurance provider’s stock valued at $4,305,000 after buying an additional 6,020 shares during the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on BBT shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $59.00 price target on shares of BB&T in a report on Thursday, July 12th. B. Riley cut their price target on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a report on Friday, July 20th. FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 price target on shares of BB&T in a report on Friday, July 20th. Finally, Stephens reaffirmed a “buy” rating and issued a $59.00 price target on shares of BB&T in a report on Friday, July 20th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. BB&T currently has a consensus rating of “Buy” and a consensus price target of $54.70.

In other news, Director K. David Jr. Boyer sold 2,500 shares of the business’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $52.34, for a total transaction of $130,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the transaction, the insider now owns 14,911 shares of the company’s stock, valued at $768,662.05. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Shares of NYSE:BBT opened at $52.14 on Wednesday. The stock has a market cap of $40.01 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.10 and a beta of 1.02. BB&T Co. has a 1-year low of $43.03 and a 1-year high of $56.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.88 and a quick ratio of 0.88.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 19th. The insurance provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.02). The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.92 billion. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. sell-side analysts expect that BB&T Co. will post 3.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th were issued a dividend of $0.405 per share. This is a boost from BB&T’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, August 9th. BB&T’s payout ratio is currently 51.59%.

BB&T Company Profile

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

Further Reading: Penny Stocks

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

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