Willingdon Wealth Management Boosts Holdings in BB&T Co. (BBT)
Willingdon Wealth Management raised its position in BB&T Co. (NYSE:BBT) by 33.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,096 shares of the insurance provider’s stock after purchasing an additional 5,973 shares during the period. Willingdon Wealth Management’s holdings in BB&T were worth $1,121,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wetherby Asset Management Inc. boosted its stake in shares of BB&T by 16.2% during the first quarter. Wetherby Asset Management Inc. now owns 19,317 shares of the insurance provider’s stock valued at $899,000 after acquiring an additional 2,688 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of BB&T by 4.5% during the first quarter. Shell Asset Management Co. now owns 48,462 shares of the insurance provider’s stock valued at $2,255,000 after acquiring an additional 2,106 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its stake in shares of BB&T by 7.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 12,317 shares of the insurance provider’s stock valued at $573,000 after acquiring an additional 858 shares during the last quarter. Rock Point Advisors LLC acquired a new stake in shares of BB&T during the first quarter valued at $214,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of BB&T during the first quarter valued at $1,019,000. 67.65% of the stock is currently owned by institutional investors.
BBT has been the topic of a number of analyst reports. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective on the stock in a research note on Friday, February 8th. Odeon Capital Group initiated coverage on BB&T in a research note on Friday, March 8th. They set a “buy” rating on the stock. ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Deutsche Bank raised BB&T from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Monday, March 25th. Finally, BMO Capital Markets increased their price objective on BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, February 11th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.49.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $0.94 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts forecast that BB&T Co. will post 4.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Tuesday, May 14th. BB&T’s payout ratio is 40.00%.
In other BB&T news, VP Cynthia B. Powell sold 2,651 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total value of $130,482.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $49.16, for a total value of $168,028.88. Following the completion of the sale, the insider now directly owns 14,911 shares in the company, valued at $733,024.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,358 shares of company stock worth $416,417. 0.49% of the stock is owned by corporate insiders.
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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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