Heritage Wealth Advisors Has $296,000 Stake in BB&T Corporation (BBT)
Heritage Wealth Advisors increased its position in BB&T Corporation (NYSE:BBT) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 6,530 shares of the insurance provider’s stock after buying an additional 10 shares during the period. Heritage Wealth Advisors’ holdings in BB&T Corporation were worth $296,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in BBT. Jolley Asset Management LLC boosted its position in BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock worth $112,000 after buying an additional 25 shares during the period. Quadrant Capital Group LLC raised its position in BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock valued at $135,000 after buying an additional 79 shares during the last quarter. Liberty Capital Management Inc. acquired a new position in BB&T Corporation during the second quarter valued at approximately $136,000. Guardian Life Insurance Co. of America raised its position in BB&T Corporation by 0.7% in 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, Pathstone Family Office LLC acquired a new position in BB&T Corporation during the first quarter valued at approximately $150,000. 64.45% of the stock is owned by institutional investors.
Shares of BB&T Corporation (BBT) opened at 46.68 on Friday. The stock has a market cap of $37.72 billion, a P/E ratio of 17.42 and a beta of 1.07. The firm’s 50-day moving average price is $46.02 and its 200-day moving average price is $45.21. BB&T Corporation has a 52-week low of $36.75 and a 52-week high of $49.88.
BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that BB&T Corporation will post $2.82 earnings per share for the current fiscal year.
BB&T Corporation declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.33 per share. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio (DPR) is 49.25%.
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BBT has been the subject of several analyst reports. BidaskClub lowered BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Hilliard Lyons upgraded BB&T Corporation from a “neutral” rating to a “buy” rating and dropped their target price for the company from $51.00 to $49.00 in a research note on Monday, April 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a research note on Friday, July 14th. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a research note on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, twelve have given 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 an average target price of $47.19.
In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction dated 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. 0.36% of the stock is owned by company insiders.
BB&T Corporation Company Profile
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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