Profund Advisors LLC boosted its holdings in shares of BB&T Co. (NYSE:BBT) by 33.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,746 shares of the insurance provider’s stock after acquiring an additional 6,398 shares during the quarter. Profund Advisors LLC’s holdings in BB&T were worth $1,265,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Marino Stram & Associates LLC acquired a new stake in BB&T during the first quarter worth $32,000. Resources Investment Advisors Inc. grew its stake in shares of BB&T by 149.2% in the first quarter. Resources Investment Advisors Inc. now owns 957 shares of the insurance provider’s stock valued at $45,000 after buying an additional 573 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of BB&T in the second quarter valued at $48,000. NuWave Investment Management LLC acquired a new stake in shares of BB&T in the second quarter valued at $57,000. Finally, Financial Gravity Wealth Inc. grew its stake in shares of BB&T by 285.4% in the second quarter. Financial Gravity Wealth Inc. now owns 1,268 shares of the insurance provider’s stock valued at $62,000 after buying an additional 939 shares in the last quarter. 70.26% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on BBT. Wells Fargo & Co set a $55.00 price objective on BB&T and gave the company a “buy” rating in a research note on Friday, August 16th. UBS Group dropped their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley set a $51.00 price objective on BB&T and gave the company a “hold” rating in a research note on Friday, August 9th. Deutsche Bank set a $59.00 price objective on BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. dropped their price objective on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BB&T has an average rating of “Buy” and an average target price of $53.95.
NYSE:BBT traded up $0.27 during midday trading on Friday, reaching $53.06. The company had a trading volume of 4,239,835 shares, compared to its average volume of 4,249,487. The firm has a market capitalization of $40.45 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.38 and a beta of 1.15. The stock’s fifty day simple moving average is $48.14 and its 200-day simple moving average is $48.92. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $53.69. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79.
BB&T (NYSE:BBT) last released its earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. BB&T’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. As a group, sell-side analysts expect that BB&T Co. will post 4.25 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 14th were issued a $0.45 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.39%. BB&T’s dividend payout ratio (DPR) is presently 44.44%.
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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