Nuance Investments LLC Boosts Position in BB&T Corporation (BBT)
Nuance Investments LLC increased its position in shares of BB&T Corporation (NYSE:BBT) by 15.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,023 shares of the insurance provider’s stock after acquiring an additional 21,352 shares during the period. Nuance Investments LLC’s holdings in BB&T were worth $7,371,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in BB&T by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after purchasing an additional 1,325,018 shares during the period. BlackRock Inc. increased its holdings in BB&T by 0.8% during the 2nd quarter. BlackRock Inc. now owns 47,713,735 shares of the insurance provider’s stock worth $2,166,682,000 after purchasing an additional 381,915 shares during the period. Macquarie Group Ltd. increased its holdings in BB&T by 1.7% during the 2nd quarter. Macquarie Group Ltd. now owns 17,133,475 shares of the insurance provider’s stock worth $778,031,000 after purchasing an additional 291,257 shares during the period. First Eagle Investment Management LLC increased its holdings in BB&T by 3.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 16,699,414 shares of the insurance provider’s stock worth $783,870,000 after purchasing an additional 541,257 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in BB&T by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,829,063 shares of the insurance provider’s stock worth $414,436,000 after purchasing an additional 86,200 shares during the period. 65.39% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on BBT shares. BidaskClub upgraded BB&T from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $52.00 price target on shares of BB&T in a report on Friday, October 20th. Royal Bank Of Canada restated a “buy” rating and set a $50.00 price target on shares of BB&T in a report on Friday, October 20th. FBR & Co set a $48.00 price target on BB&T and gave the stock a “hold” rating in a report on Friday, October 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of BB&T in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.17.
BB&T Corporation (NYSE BBT) opened at $46.34 on Monday. BB&T Corporation has a 1-year low of $41.17 and a 1-year high of $49.91. The company has a market capitalization of $36,558.60, a PE ratio of 15.29, a PEG ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85.
BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. BB&T had a return on equity of 9.64% and a net margin of 19.42%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts forecast that BB&T Corporation will post 3.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.33 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.85%. BB&T’s payout ratio is currently 49.07%.
In other news, VP Donta L. Wilson sold 4,250 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.51, for a total value of $201,917.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donna C. Goodrich sold 26,869 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.13, for a total value of $1,320,073.97. Following the completion of the transaction, the insider now owns 78,589 shares in the company, valued at approximately $3,861,077.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,351 shares of company stock worth $8,207,790. Company insiders own 0.36% of the company’s stock.
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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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