Argent Trust Co Increases Holdings in BB&T Co. (BBT)

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Argent Trust Co raised its stake in shares of BB&T Co. (NYSE:BBT) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,919 shares of the insurance provider’s stock after buying an additional 2,281 shares during the period. Argent Trust Co’s holdings in BB&T were worth $2,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBT. Whitener Capital Management Inc. boosted its holdings in BB&T by 14.5% in the 4th quarter. Whitener Capital Management Inc. now owns 37,399 shares of the insurance provider’s stock worth $1,620,000 after buying an additional 4,739 shares during the period. CNB Bank raised its position in shares of BB&T by 283.6% during the 4th quarter. CNB Bank now owns 1,051 shares of the insurance provider’s stock valued at $46,000 after buying an additional 777 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of BB&T by 4,179.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,647,587 shares of the insurance provider’s stock valued at $84,000 after buying an additional 3,562,345 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of BB&T by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 299,999 shares of the insurance provider’s stock valued at $12,996,000 after buying an additional 14,176 shares in the last quarter. Finally, Destination Wealth Management raised its position in shares of BB&T by 375.0% during the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of BB&T from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 23rd. FIG Partners upgraded shares of BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research report on Friday, February 8th. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. BMO Capital Markets increased their price objective on shares of BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Bank of America raised shares of BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective on the stock in a research report on Friday, February 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $53.96.

In related news, Director Patrick C. Graney III bought 4,200 shares of BB&T stock in a transaction dated Thursday, December 6th. The shares were acquired at an average cost of $47.56 per share, with a total value of $199,752.00. Following the completion of the transaction, the director now owns 4,200 shares in the company, valued at approximately $199,752. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.51% of the company’s stock.

BB&T stock opened at $50.46 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.88 and a current ratio of 0.89. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $56.31. The stock has a market capitalization of $39.20 billion, a P/E ratio of 12.46, a PEG ratio of 1.09 and a beta of 1.12.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, January 17th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. BB&T had a net margin of 24.15% and a return on equity of 12.13%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts expect that BB&T Co. will post 4.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 13th will be given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, February 12th. BB&T’s dividend payout ratio (DPR) is currently 40.00%.

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About BB&T

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

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