Capital Guardian Trust Co. Sells 525 Shares of BB&T Corporation (BBT)
Capital Guardian Trust Co. lessened its holdings in shares of BB&T Corporation (NYSE:BBT) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,600 shares of the insurance provider’s stock after selling 525 shares during the quarter. Capital Guardian Trust Co.’s holdings in BB&T Corporation were worth $1,480,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Signature Estate & Investment Advisors LLC bought a new position in shares of BB&T Corporation in the second quarter valued at $111,000. Community Bank N.A. grew its holdings in shares of BB&T Corporation by 6.2% during the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after buying an additional 144 shares during the last quarter. Liberty Capital Management Inc. acquired a new position in shares of BB&T Corporation during the second quarter valued at about $136,000. Guardian Life Insurance Co. of America grew its holdings in shares of BB&T Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. grew its holdings in shares of BB&T Corporation by 51.1% during the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after buying an additional 1,045 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
Shares of BB&T Corporation (BBT) traded down 0.72% during mid-day trading on Tuesday, reaching $46.82. 429,585 shares of the company’s stock traded hands. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of 17.48 and a beta of 1.07. The firm’s 50 day moving average price is $45.60 and its 200-day moving average price is $44.73. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88.
BB&T Corporation (NYSE:BBT) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations 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 revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities research analysts forecast that BB&T Corporation will post $2.81 earnings per share for the current year.
BB&T Corporation announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several equities analysts recently weighed in on the stock. BidaskClub raised shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. BMO Capital Markets reiterated a “hold” rating and set a $49.00 price target 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 for the company. in a report on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a report on Friday, July 14th. Finally, Wells Fargo & Company assumed coverage on BB&T Corporation in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.73.
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In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was 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 available through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was 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 have sold 55,610 shares of company stock worth $2,618,364 over the last ninety days. 0.36% of the stock is currently owned by insiders.
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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