Dorsey & Whitney Trust CO LLC Sells 1,266 Shares of BB&T Co. (BBT)
Dorsey & Whitney Trust CO LLC cut its position in shares of BB&T Co. (NYSE:BBT) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,992 shares of the insurance provider’s stock after selling 1,266 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in BB&T were worth $248,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. First Merchants Corp boosted its holdings in BB&T by 9.1% during the 3rd quarter. First Merchants Corp now owns 80,743 shares of the insurance provider’s stock valued at $3,790,000 after acquiring an additional 6,753 shares during the period. Bank of Hawaii purchased a new stake in BB&T during the 3rd quarter valued at about $657,000. Bank of New York Mellon Corp boosted its holdings in BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock valued at $414,436,000 after acquiring an additional 86,200 shares during the period. Toronto Dominion Bank boosted its holdings in BB&T by 10.4% during the 4th quarter. Toronto Dominion Bank now owns 342,627 shares of the insurance provider’s stock valued at $17,036,000 after acquiring an additional 32,232 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in BB&T by 4.1% during the 4th quarter. Suntrust Banks Inc. now owns 398,399 shares of the insurance provider’s stock valued at $19,806,000 after acquiring an additional 15,612 shares during the period. Hedge funds and other institutional investors own 65.19% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Wednesday. BMO Capital Markets upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Friday, February 9th. They noted that the move was a valuation call. Morgan Stanley increased their target price on BB&T from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. ValuEngine upgraded BB&T from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, B. Riley reiterated a “hold” rating and issued a $55.00 price objective on shares of BB&T in a report on Thursday, January 18th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.81.
BB&T (NYSE:BBT) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.04. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. analysts expect that BB&T Co. will post 3.93 earnings per share for the current year.
The company also recently announced a None dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be paid a $0.045 dividend. This represents a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, March 5th. BB&T’s payout ratio is presently 48.18%.
In other news, Director K. David Jr. Boyer sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $55.03, for a total value of $137,575.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clarke R. Starnes III sold 22,629 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.40, for a total value of $1,253,646.60. Following the completion of the transaction, the insider now owns 107,933 shares of the company’s stock, valued at approximately $5,979,488.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,253 shares of company stock valued at $9,160,474. 0.36% of the stock is currently owned by company insiders.
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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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