PCJ Investment Counsel Ltd. Cuts Stake in BB&T Co. (BBT)
PCJ Investment Counsel Ltd. trimmed its stake in shares of BB&T Co. (NYSE:BBT) by 69.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the insurance provider’s stock after selling 45,000 shares during the period. PCJ Investment Counsel Ltd.’s holdings in BB&T were worth $971,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of BBT. Zions Bancorporation purchased a new position in BB&T during the third quarter worth approximately $102,000. Girard Partners LTD. acquired a new stake in BB&T during the third quarter worth $142,000. SRS Capital Advisors Inc. increased its stake in BB&T by 4,311.8% during the third quarter. SRS Capital Advisors Inc. now owns 3,000 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 2,932 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in BB&T during the second quarter worth $167,000. Finally, Bridgeworth LLC acquired a new stake in BB&T during the second quarter worth $197,000. 64.07% of the stock is currently owned by hedge funds and other institutional investors.
BBT has been the subject of several recent analyst reports. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, October 23rd. B. Riley set a $56.00 target price on BB&T and gave the stock a “buy” rating in a research note on Monday, October 15th. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, BMO Capital Markets cut their target price on BB&T from $58.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. BB&T has an average rating of “Buy” and an average target price of $55.50.
NYSE BBT traded up $0.33 during trading on Friday, reaching $48.47. 24,371 shares of the company’s stock were exchanged, compared to its average volume of 4,442,329. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. BB&T Co. has a 1 year low of $45.93 and a 1 year high of $56.31.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. BB&T had a return on equity of 11.66% and a net margin of 23.52%. BB&T’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 EPS. As a group, equities research analysts expect that BB&T Co. will post 4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were issued a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, November 8th. BB&T’s payout ratio is currently 51.59%.
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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