MHI Funds LLC Takes $3.43 Million Position in BB&T Co. (NYSE:BBT)

MHI Funds LLC bought a new position in shares of BB&T Co. (NYSE:BBT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 68,906 shares of the insurance provider’s stock, valued at approximately $3,426,000. BB&T accounts for about 3.0% of MHI Funds LLC’s holdings, making the stock its 6th largest holding.

Other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp lifted its holdings in shares of BB&T by 35.8% during the second quarter. Cibc World Markets Corp now owns 114,663 shares of the insurance provider’s stock worth $5,207,000 after purchasing an additional 30,229 shares during the period. Parametric Portfolio Associates LLC increased its position in BB&T by 20.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,633,488 shares of the insurance provider’s stock worth $74,177,000 after purchasing an additional 277,224 shares in the last quarter. Ropes Wealth Advisors LLC increased its position in BB&T by 7.4% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 6,006 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 415 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in BB&T by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,807,810 shares of the insurance provider’s stock worth $218,341,000 after buying an additional 31,944 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its stake in BB&T by 4.1% in the 2nd quarter. Evercore Wealth Management LLC now owns 4,470 shares of the insurance provider’s stock worth $203,000 after buying an additional 175 shares during the last quarter. Institutional investors own 65.89% of the company’s stock.

BB&T Co. (BBT) opened at $54.74 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87. BB&T Co. has a 12-month low of $41.17 and a 12-month high of $55.99. The stock has a market capitalization of $41,704.38, a P/E ratio of 19.98, a P/E/G ratio of 1.37 and a beta of 1.06.

BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. equities analysts forecast that BB&T Co. will post 3.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 9th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a yield of 2.41%. BB&T’s dividend payout ratio (DPR) is presently 48.18%.

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised BB&T from a “market perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Friday, February 9th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on BB&T from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. ValuEngine upgraded BB&T from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. B. Riley reiterated a “hold” rating and issued a $55.00 price target on shares of BB&T in a report on Thursday, January 18th. Finally, Oppenheimer reiterated a “hold” rating on shares of BB&T in a report on Thursday, January 18th. Fifteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. BB&T has a consensus rating of “Hold” and a consensus price target of $53.52.

In other BB&T news, insider Donna C. Goodrich sold 10,799 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $46.77, for a total transaction of $505,069.23. Following the completion of the transaction, the insider now owns 47,182 shares in the company, valued at approximately $2,206,702.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nido R. Qubein sold 21,025 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $54.50, for a total value of $1,145,862.50. Following the transaction, the director now owns 59,513 shares of the company’s stock, valued at approximately $3,243,458.50. The disclosure for this sale can be found here. Insiders have sold a total of 152,923 shares of company stock valued at $8,274,322 in the last quarter. 0.36% of the stock is currently owned by insiders.

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BB&T Profile

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 (NYSE:BBT)

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