American National Insurance Co. TX held its position in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 95,190 shares of the insurance provider’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in BB&T Corporation were worth $4,323,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cape Cod Five Cents Savings Bank increased its position in shares of BB&T Corporation by 3.6% in the second quarter. Cape Cod Five Cents Savings Bank now owns 118,478 shares of the insurance provider’s stock worth $5,380,000 after buying an additional 4,067 shares during the last quarter. CrestPoint Capital Management LLC acquired a new stake in BB&T Corporation during the second quarter worth about $1,471,000. CENTRAL TRUST Co boosted its stake in BB&T Corporation by 108.9% in the second quarter. CENTRAL TRUST Co now owns 3,892 shares of the insurance provider’s stock worth $176,000 after buying an additional 2,029 shares during the period. Eqis Capital Management Inc. acquired a new stake in BB&T Corporation during the second quarter worth about $384,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in BB&T Corporation by 506.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 131,243 shares of the insurance provider’s stock worth $5,960,000 after buying an additional 109,603 shares during the period. 64.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BB&T Corporation (NYSE:BBT) traded down 0.79% during trading on Friday, hitting $46.31. 4,575,041 shares of the stock traded hands. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88. The firm has a market cap of $37.42 billion, a P/E ratio of 17.29 and a beta of 1.07. The company has a 50-day moving average of $46.10 and a 200-day moving average of $45.22.
BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, analysts forecast that BB&T Corporation will post $2.82 EPS for the current fiscal year.
The business also recently disclosed 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. This is a boost from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.85%. BB&T Corporation’s payout ratio is presently 49.25%.
BB&T Corporation announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
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A number of analysts have recently weighed in on BBT shares. FBR & Co reaffirmed a “hold” rating on shares of BB&T Corporation in a research report on Friday, April 21st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a report on Thursday, April 20th. Hilliard Lyons raised shares of BB&T Corporation from a “neutral” rating to a “buy” rating and lowered their price target for the company from $51.00 to $49.00 in a report on Monday, April 24th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $48.00 target price on shares of BB&T Corporation in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. BB&T Corporation currently has a consensus rating of “Hold” and an average price target of $47.19.
In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the completion of the transaction, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
About BB&T Corporation
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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