LSV Asset Management Increases Stake in BB&T Co. (BBT)
LSV Asset Management grew its stake in shares of BB&T Co. (NYSE:BBT) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 3,549,446 shares of the insurance provider’s stock after purchasing an additional 57,075 shares during the quarter. LSV Asset Management’s holdings in BB&T were worth $153,761,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Advantage Inc. bought a new stake in BB&T during the fourth quarter worth about $27,000. Transamerica Financial Advisors Inc. boosted its stake in BB&T by 620.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 807 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 695 shares in the last quarter. IMS Capital Management bought a new stake in BB&T during the third quarter worth about $39,000. We Are One Seven LLC bought a new stake in BB&T during the fourth quarter worth about $39,000. Finally, Financial Gravity Companies Inc. bought a new stake in BB&T during the fourth quarter worth about $48,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on BBT shares. Barclays boosted their price objective on shares of BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered shares of BB&T from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. Bank of America lowered shares of BB&T from a “buy” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Thursday, January 10th. They noted that the move was a valuation call. Finally, Deutsche Bank lowered shares of BB&T from a “buy” rating to a “hold” rating and set a $49.08 price objective on the stock. in a research note on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. BB&T has a consensus rating of “Buy” and an average target price of $53.96.
Shares of NYSE BBT opened at $50.57 on Tuesday. The company has a market capitalization of $38.97 billion, a PE ratio of 12.49, a PEG ratio of 1.09 and a beta of 1.12. BB&T Co. has a 52-week low of $40.68 and a 52-week high of $56.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 0.89.
BB&T (NYSE:BBT) last issued its earnings results on Thursday, January 17th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.98 billion. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. On average, research analysts anticipate that BB&T Co. will post 4.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 13th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, February 12th. This represents a $1.62 annualized dividend and a dividend yield of 3.20%. BB&T’s dividend payout ratio is presently 40.00%.
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BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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