Trust Co. of Virginia VA trimmed its position in BB&T Co. (NYSE:BBT) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 22,169 shares of the insurance provider’s stock after selling 925 shares during the quarter. Trust Co. of Virginia VA’s holdings in BB&T were worth $1,032,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Financial Advantage Inc. acquired a new position in BB&T in the fourth quarter valued at approximately $27,000. Athena Capital Advisors LLC bought a new stake in shares of BB&T during the fourth quarter valued at approximately $28,000. Sontag Advisory LLC bought a new stake in shares of BB&T during the fourth quarter valued at approximately $28,000. Truvestments Capital LLC bought a new stake in shares of BB&T during the first quarter valued at approximately $30,000. Finally, Destination Wealth Management raised its holdings in shares of BB&T by 375.0% during the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.
Several equities research analysts recently commented on BBT shares. Stephens cut BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Morgan Stanley lowered their price objective on shares of BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Raymond James cut shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price objective on the stock. in a research report on Thursday, April 4th. Deutsche Bank cut shares of BB&T from a “buy” rating to a “hold” rating and set a $45.39 price objective on the stock. in a research report on Tuesday, March 26th. Finally, BMO Capital Markets boosted their price target on shares of BB&T from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, February 11th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.49.
In related news, VP Cynthia B. Powell sold 2,651 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total value of $130,482.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Donta L. Wilson sold 3,418 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $49.16, for a total transaction of $168,028.88. Following the completion of the sale, the insider now directly owns 14,911 shares in the company, valued at approximately $733,024.76. The disclosure for this sale can be found here. In the last three months, insiders sold 10,647 shares of company stock worth $534,461. 0.49% of the stock is currently owned by insiders.
Shares of BBT traded up $0.38 during trading hours on Tuesday, reaching $48.72. 133,158 shares of the company traded hands, compared to its average volume of 5,749,982. The firm has a market capitalization of $36.67 billion, a P/E ratio of 12.02, a P/E/G 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 Co. has a 1-year low of $40.68 and a 1-year high of $56.03.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. As a group, equities analysts forecast that BB&T Co. will post 4.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a yield of 3.33%. BB&T’s payout ratio is currently 40.00%.
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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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