BB&T Corporation (NYSE:BBT) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its stake in shares of BB&T Corporation (NYSE:BBT) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 322,888 shares of the insurance provider’s stock after buying an additional 459 shares during the period. BB&T Corporation accounts for 1.5% of Salem Investment Counselors Inc.’s holdings, making the stock its 16th largest position. Salem Investment Counselors Inc.’s holdings in BB&T Corporation were worth $14,297,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BBT. Jolley Asset Management LLC raised its position in shares of BB&T Corporation by 1.0% in the first quarter. Jolley Asset Management LLC now owns 2,500 shares of the insurance provider’s stock valued at $112,000 after buying an additional 25 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of BB&T Corporation by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,152 shares of the insurance provider’s stock valued at $135,000 after buying an additional 79 shares in the last quarter. Pathstone Family Office LLC bought a new position in shares of BB&T Corporation during the first quarter valued at approximately $150,000. Finally, Welch Group LLC bought a new position in shares of BB&T Corporation during the first quarter valued at approximately $151,000. 64.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BB&T Corporation (NYSE:BBT) traded down 0.09% during midday trading on Friday, hitting $46.12. The company had a trading volume of 4,394,869 shares. The company has a market cap of $37.27 billion, a price-to-earnings ratio of 17.22 and a beta of 1.07. BB&T Corporation has a 12 month low of $36.75 and a 12 month high of $49.88. The stock’s 50-day moving average price is $46.45 and its 200-day moving average price is $45.21.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that BB&T Corporation will post $2.84 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a $0.33 dividend. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio is presently 49.25%.

BB&T Corporation declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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Several equities analysts have commented on the stock. BidaskClub upgraded shares of BB&T Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a research report on Friday, August 4th. Wells Fargo & Company began coverage on shares of BB&T Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $44.00 target price on the stock. BMO Capital Markets restated a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 21st. Finally, Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.19.

In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,610 shares of company stock worth $2,618,364. Insiders own 0.36% of the company’s stock.

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.

Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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