Investors Sell Shares of BB&T Corporation (BBT) on Strength (BBT)
Traders sold shares of BB&T Corporation (NYSE:BBT) on strength during trading hours on Tuesday. $14.34 million flowed into the stock on the tick-up and $51.62 million flowed out of the stock on the tick-down, for a money net flow of $37.28 million out of the stock. Of all companies tracked, BB&T Corporation had the 21st highest net out-flow for the day. BB&T Corporation traded up $0.13 for the day and closed at $46.99
A number of analysts have commented on the company. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. BMO Capital Markets reiterated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 21st. Hilliard Lyons downgraded BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Friday, July 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 14th. Finally, Wells Fargo & Company assumed coverage on BB&T Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. BB&T Corporation has a consensus rating of “Hold” and a consensus target price of $47.19.
The firm has a market capitalization of $37.97 billion, a PE ratio of 17.54 and a beta of 1.07. The firm’s 50 day moving average price is $46.31 and its 200-day moving average price is $45.20.
BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that BB&T Corporation will post $2.84 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.81%. BB&T Corporation’s dividend payout ratio is presently 49.25%.
BB&T Corporation announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $1.88 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at $1,642,131.09. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new stake in BB&T Corporation during the second quarter valued at $111,000. Community Bank N.A. boosted its stake in BB&T Corporation by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock valued at $112,000 after buying an additional 144 shares during the last quarter. Jolley Asset Management LLC boosted its stake 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 valued at $112,000 after buying an additional 25 shares during the last quarter. Liberty Capital Management Inc. acquired a new stake in BB&T Corporation during the second quarter valued at $136,000. Finally, Oakworth Capital Inc. boosted its stake in BB&T Corporation by 51.1% in the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock valued at $140,000 after buying an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 64.46% of the company’s stock.
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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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