BB&T Co. (NYSE:BBT) Shares Sold by RKL Wealth Management LLC

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RKL Wealth Management LLC lessened its holdings in shares of BB&T Co. (NYSE:BBT) by 6.9% during the 2nd quarter, Holdings Channel reports. The firm owned 31,228 shares of the insurance provider’s stock after selling 2,304 shares during the period. RKL Wealth Management LLC’s holdings in BB&T were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. lifted its position in shares of BB&T by 3.3% during the second quarter. GHP Investment Advisors Inc. now owns 59,196 shares of the insurance provider’s stock worth $2,908,000 after purchasing an additional 1,873 shares in the last quarter. Whitener Capital Management Inc. increased its stake in shares of BB&T by 21.5% during the second quarter. Whitener Capital Management Inc. now owns 38,589 shares of the insurance provider’s stock worth $1,895,000 after buying an additional 6,829 shares during the period. Galibier Capital Management Ltd. increased its stake in shares of BB&T by 0.7% during the second quarter. Galibier Capital Management Ltd. now owns 35,593 shares of the insurance provider’s stock worth $1,749,000 after buying an additional 241 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its stake in shares of BB&T by 1.6% during the second quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 99,400 shares of the insurance provider’s stock worth $4,884,000 after buying an additional 1,570 shares during the period. Finally, BHK Investment Advisors LLC increased its stake in shares of BB&T by 44.9% during the second quarter. BHK Investment Advisors LLC now owns 25,913 shares of the insurance provider’s stock worth $1,273,000 after buying an additional 8,028 shares during the period. 67.93% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on BBT. Deutsche Bank set a $59.00 target price on shares of BB&T and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their target price on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. ValuEngine upgraded shares of BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley set a $51.00 target price on shares of BB&T and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group cut their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.86.

In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total value of $120,825.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Hudson Weaver sold 21,705 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $51.44, for a total transaction of $1,116,505.20. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

BB&T stock traded up $1.10 during mid-day trading on Friday, hitting $46.55. The company had a trading volume of 8,019,600 shares, compared to its average volume of 4,669,523. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.15 and a beta of 1.12. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.08. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average of $49.38 and a 200 day moving average of $49.25.

BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Equities analysts anticipate that BB&T Co. will post 4.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.80 annualized dividend and a yield of 3.87%. BB&T’s dividend payout ratio is currently 44.44%.

BB&T Company Profile

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

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

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