Dupont Capital Management Corp acquired a new stake in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,741 shares of the insurance provider’s stock, valued at approximately $170,000.

Several other large investors also recently modified their holdings of the company. Waldron LP increased its position in BB&T Corporation by 152.5% in the first quarter. Waldron LP now owns 17,170 shares of the insurance provider’s stock worth $689,000 after buying an additional 10,370 shares during the period. First Manhattan Co. increased its position in BB&T Corporation by 6.8% in the first quarter. First Manhattan Co. now owns 12,284 shares of the insurance provider’s stock worth $463,000 after buying an additional 780 shares during the period. Glen Harbor Capital Management LLC increased its position in BB&T Corporation by 47.5% in the first quarter. Glen Harbor Capital Management LLC now owns 23,426 shares of the insurance provider’s stock worth $1,047,000 after buying an additional 7,548 shares during the period. Kanawha Capital Management LLC increased its position in BB&T Corporation by 1.0% in the first quarter. Kanawha Capital Management LLC now owns 198,652 shares of the insurance provider’s stock worth $8,880,000 after buying an additional 1,982 shares during the period. Finally, First Western Capital Management Co increased its position in BB&T Corporation by 33.3% in the first quarter. First Western Capital Management Co now owns 14,918 shares of the insurance provider’s stock worth $667,000 after buying an additional 3,724 shares during the period. 64.30% of the stock is owned by institutional investors.

Shares of BB&T Corporation (BBT) opened at 46.30 on Thursday. The firm has a market cap of $37.41 billion, a PE ratio of 17.28 and a beta of 1.07. BB&T Corporation has a 1-year low of $36.80 and a 1-year high of $49.88. The stock’s 50 day moving average is $46.47 and its 200-day moving average is $45.21.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Analysts expect that BB&T Corporation will post $2.84 earnings per share for the current year.

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

BB&T Corporation declared that its Board of Directors has initiated a share 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 purchase up to 5.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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A number of research firms recently weighed in on BBT. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of BB&T Corporation in a research report on Friday, August 25th. BidaskClub downgraded shares of BB&T Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Wells Fargo & Company began coverage on shares of BB&T Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price for the company. Macquarie raised shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a research report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. BB&T Corporation presently has a consensus rating of “Hold” and a consensus price target of $47.06.

In related 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 transaction, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The sale 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. Over the last quarter, insiders have sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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