Verity & Verity LLC grew its holdings in BB&T Co. (NYSE:BBT) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 203,245 shares of the insurance provider’s stock after purchasing an additional 8,993 shares during the period. BB&T comprises approximately 2.2% of Verity & Verity LLC’s investment portfolio, making the stock its 11th biggest holding. Verity & Verity LLC’s holdings in BB&T were worth $9,457,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in BB&T by 31.6% in the third quarter. Mackenzie Financial Corp now owns 9,412 shares of the insurance provider’s stock valued at $457,000 after buying an additional 2,262 shares during the last quarter. Kentucky Retirement Systems purchased a new position in BB&T in the third quarter valued at $2,172,000. Standard Life Aberdeen plc increased its holdings in BB&T by 9.1% in the third quarter. Standard Life Aberdeen plc now owns 851,764 shares of the insurance provider’s stock valued at $41,345,000 after buying an additional 71,378 shares during the last quarter. Legal & General Group Plc increased its holdings in BB&T by 1.7% in the third quarter. Legal & General Group Plc now owns 3,657,100 shares of the insurance provider’s stock valued at $177,517,000 after buying an additional 62,699 shares during the last quarter. Finally, Morgan Stanley increased its holdings in BB&T by 22.2% in the third quarter. Morgan Stanley now owns 3,303,221 shares of the insurance provider’s stock valued at $160,338,000 after buying an additional 599,074 shares during the last quarter. Institutional investors own 65.51% of the company’s stock.
Shares of BBT traded up $0.21 during mid-day trading on Wednesday, hitting $48.99. 4,643,403 shares of the company’s stock were exchanged, compared to its average volume of 5,713,535. BB&T Co. has a fifty-two week low of $40.68 and a fifty-two week high of $55.65. The company has a market capitalization of $37.36 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88.
BB&T (NYSE:BBT) last announced its earnings results on Thursday, April 18th. The insurance provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that BB&T Co. will post 4.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 annualized dividend and a dividend yield of 3.31%. BB&T’s dividend payout ratio (DPR) is 40.00%.
BBT has been the topic of several research reports. Odeon Capital Group initiated coverage on BB&T in a report on Friday, March 8th. They set a “buy” rating on the stock. Morgan Stanley dropped their price objective on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Bank of America raised BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective on the stock in a report on Friday, February 8th. Stephens lowered BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $49.08 price objective on the stock. in a report on Friday, January 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.49.
In other BB&T news, Director Patrick C. Graney III bought 3,890 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was acquired at an average price of $51.04 per share, for a total transaction of $198,545.60. Following the completion of the purchase, the director now owns 11,456 shares of the company’s stock, valued at $584,714.24. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director I. Patricia Henry sold 2,289 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $51.51, for a total transaction of $117,906.39. Following the completion of the sale, the director now owns 4,543 shares of the company’s stock, valued at approximately $234,009.93. The disclosure for this sale can be found here. Insiders have sold 8,358 shares of company stock valued at $416,417 in the last quarter. Insiders own 0.49% of the company’s stock.
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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