Foster & Motley Inc. Decreases Stake in BB&T Co. (BBT)
Foster & Motley Inc. cut its holdings in BB&T Co. (NYSE:BBT) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,928 shares of the insurance provider’s stock after selling 611 shares during the period. Foster & Motley Inc.’s holdings in BB&T were worth $1,532,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of BB&T by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after buying an additional 939,154 shares during the period. BlackRock Inc. boosted its holdings in shares of BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock valued at $2,321,062,000 after buying an additional 4,086,502 shares during the period. Macquarie Group Ltd. boosted its stake in BB&T by 1.1% during the 4th quarter. Macquarie Group Ltd. now owns 14,568,592 shares of the insurance provider’s stock valued at $631,112,000 after purchasing an additional 162,458 shares during the period. Northern Trust Corp boosted its stake in BB&T by 1.7% during the 4th quarter. Northern Trust Corp now owns 11,129,669 shares of the insurance provider’s stock valued at $482,138,000 after purchasing an additional 181,065 shares during the period. Finally, Geode Capital Management LLC boosted its stake in BB&T by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after purchasing an additional 590,366 shares during the period. 65.51% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BBT opened at $48.34 on Tuesday. The company has a market capitalization of $36.67 billion, a PE ratio of 11.94, a P/E/G ratio of 1.18 and a beta of 1.16. BB&T Co. has a twelve month low of $40.68 and a twelve month high of $56.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, May 14th. BB&T’s dividend payout ratio is currently 40.00%.
In other news, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total value of $130,482.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick C. Graney III purchased 3,890 shares of BB&T stock in a transaction dated Thursday, February 28th. The stock was bought at an average cost of $51.04 per share, with a total value of $198,545.60. Following the completion of the purchase, the director now owns 11,456 shares in the company, valued at approximately $584,714.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 10,647 shares of company stock valued at $534,461. Company insiders own 0.49% of the company’s stock.
A number of research firms have issued reports on BBT. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Deutsche Bank raised shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, March 25th. BMO Capital Markets boosted their target price on shares of BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. FIG Partners raised shares of BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Friday, February 8th. Finally, Raymond James lowered shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price for the company. in a research note on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.49.
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BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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