Bray Capital Advisors cut its stake in BB&T Corporation (NYSE:BBT) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,854 shares of the insurance provider’s stock after selling 4,611 shares during the period. BB&T Corporation accounts for approximately 1.7% of Bray Capital Advisors’ investment portfolio, making the stock its 19th largest position. Bray Capital Advisors’ holdings in BB&T Corporation were worth $3,081,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of BBT. TNB Financial acquired a new stake in shares of BB&T Corporation during the first quarter valued at $1,371,000. Regentatlantic Capital LLC increased its position in shares of BB&T Corporation by 5.0% in the first quarter. Regentatlantic Capital LLC now owns 5,440 shares of the insurance provider’s stock valued at $243,000 after buying an additional 257 shares in the last quarter. Bank of Montreal Can increased its position in shares of BB&T Corporation by 8.2% in the first quarter. Bank of Montreal Can now owns 1,250,716 shares of the insurance provider’s stock valued at $55,906,000 after buying an additional 94,692 shares in the last quarter. Univest Corp of Pennsylvania increased its position in shares of BB&T Corporation by 3.6% in the first quarter. Univest Corp of Pennsylvania now owns 89,334 shares of the insurance provider’s stock valued at $3,993,000 after buying an additional 3,109 shares in the last quarter. Finally, Kempner Capital Management Inc. increased its position in shares of BB&T Corporation by 9.2% in the first quarter. Kempner Capital Management Inc. now owns 37,160 shares of the insurance provider’s stock valued at $1,661,000 after buying an additional 3,140 shares in the last quarter. Institutional investors own 64.46% of the company’s stock.
BB&T Corporation (NYSE BBT) traded down 0.09% during mid-day trading on Friday, reaching $46.12. 4,394,869 shares of the company’s stock traded hands. The stock has a market cap of $37.27 billion, a P/E ratio of 17.22 and a beta of 1.07. The company has a 50 day moving average price of $46.45 and a 200-day moving average price of $45.21. BB&T Corporation has a 12 month low of $36.75 and a 12 month high of $49.88.
BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. On average, analysts anticipate that BB&T Corporation will post $2.84 EPS for the current year.
BB&T Corporation announced that its board has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio (DPR) is 49.25%.
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BBT has been the subject of several analyst reports. FBR & Co reissued a “hold” rating on shares of BB&T Corporation in a report on Friday, April 21st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of BB&T Corporation in a research note on Thursday, April 20th. Hilliard Lyons raised shares of BB&T Corporation from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $51.00 to $49.00 in a research note on Monday, April 24th. BidaskClub raised shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $48.00 price target on shares of BB&T Corporation in a research note on Friday, June 30th. One investment 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. The stock currently has an average rating of “Hold” and a consensus target price of $47.19.
In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total transaction of $865,606.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the sale, the executive vice president now directly owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Insiders have sold a total of 55,610 shares of company stock worth $2,618,364 in the last three months. 0.36% of the stock is owned by corporate 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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