Hudson Valley Investment Advisors Inc. ADV lessened its holdings in BB&T Co. (NYSE:BBT) by 17.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 33,405 shares of the insurance provider’s stock after selling 6,886 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in BB&T were worth $1,554,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Burke & Herbert Bank & Trust Co. boosted its position in BB&T by 3.8% in the 1st quarter. Burke & Herbert Bank & Trust Co. now owns 7,003 shares of the insurance provider’s stock valued at $326,000 after buying an additional 257 shares during the period. Campbell Newman Asset Management Inc. boosted its position in BB&T by 1.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 253,625 shares of the insurance provider’s stock valued at $11,802,000 after buying an additional 3,506 shares during the period. State of Alaska Department of Revenue boosted its position in BB&T by 27.6% in the 1st quarter. State of Alaska Department of Revenue now owns 188,515 shares of the insurance provider’s stock valued at $8,769,000 after buying an additional 40,833 shares during the period. Denali Advisors LLC purchased a new position in BB&T in the 1st quarter valued at approximately $1,773,000. Finally, Farmers Trust Co. purchased a new position in BB&T in the 1st quarter valued at approximately $2,416,000. 65.12% of the stock is owned by institutional investors.

In related news, Director Patrick C. Graney III purchased 3,890 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were purchased at an average cost of $51.04 per share, for a total transaction of $198,545.60. Following the purchase, the director now directly owns 11,456 shares of the company’s stock, valued at $584,714.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 2,289 shares of BB&T stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total transaction of $118,043.73. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

Shares of BBT opened at $47.90 on Wednesday. BB&T Co. has a twelve month low of $40.68 and a twelve month high of $56.03. The firm has a market capitalization of $36.79 billion, a PE ratio of 11.83, a PEG ratio of 1.18 and a beta of 1.13. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.87.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, January 17th. The insurance provider reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.01. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the business earned $0.83 EPS. The company’s revenue was up .5% on a year-over-year basis. Equities analysts expect that BB&T Co. will post 4.29 EPS for the current year.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of BB&T from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Deutsche Bank raised shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Monday, March 25th. Raymond James cut shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price target for the company. in a research report on Thursday, April 4th. Finally, BMO Capital Markets raised their price objective on shares of BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, February 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.86.

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BB&T Company Profile

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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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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