FTB Advisors Inc. cut its holdings in shares of BB&T Co. (NYSE:BBT) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,977 shares of the insurance provider’s stock after selling 1,180 shares during the quarter. FTB Advisors Inc.’s holdings in BB&T were worth $7,578,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Toronto Dominion Bank grew its position in BB&T by 19.2% in the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after acquiring an additional 81,234 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in BB&T by 3.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 304,053 shares of the insurance provider’s stock valued at $15,336,000 after acquiring an additional 9,097 shares during the period. Unigestion Holding SA bought a new stake in BB&T in the second quarter valued at $17,754,000. Strs Ohio grew its position in BB&T by 3.3% in the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after acquiring an additional 29,812 shares during the period. Finally, PGGM Investments grew its position in BB&T by 10.5% in the third quarter. PGGM Investments now owns 942,555 shares of the insurance provider’s stock valued at $45,752,000 after acquiring an additional 89,845 shares during the period. Institutional investors own 64.96% of the company’s stock.
Shares of BBT stock opened at $49.97 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market cap of $37.89 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.26 and a beta of 0.94. BB&T Co. has a 52 week low of $45.73 and a 52 week high of $56.31.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 8th. BB&T’s payout ratio is presently 51.59%.
A number of analysts have weighed in on the company. B. Riley lowered their price target on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Zacks Investment Research cut BB&T from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. ValuEngine cut BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 price target on shares of BB&T in a research report on Thursday, July 12th. Finally, FIG Partners cut BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. BB&T has an average rating of “Buy” and a consensus target price of $55.50.
In other news, Director I. Patricia Henry sold 611 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $49.50, for a total transaction of $30,244.50. Following the sale, the director now owns 4,375 shares in the company, valued at $216,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.
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BB&T Company Profile
BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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