Advisors Asset Management Inc. Acquires 9,093 Shares of BB&T Co. (BBT)

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Advisors Asset Management Inc. lifted its position in shares of BB&T Co. (NYSE:BBT) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 221,488 shares of the insurance provider’s stock after buying an additional 9,093 shares during the period. Advisors Asset Management Inc.’s holdings in BB&T were worth $11,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BBT. First PREMIER Bank raised its stake in BB&T by 64.9% during the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 1,000 shares during the period. Legacy Private Trust Co. raised its stake in BB&T by 14.0% during the second quarter. Legacy Private Trust Co. now owns 8,530 shares of the insurance provider’s stock worth $430,000 after purchasing an additional 1,050 shares during the period. Capital Investment Advisory Services LLC raised its stake in BB&T by 5.7% during the second quarter. Capital Investment Advisory Services LLC now owns 20,016 shares of the insurance provider’s stock worth $1,010,000 after purchasing an additional 1,085 shares during the period. Mutual of America Capital Management LLC raised its stake in BB&T by 1.1% during the second quarter. Mutual of America Capital Management LLC now owns 100,393 shares of the insurance provider’s stock worth $5,064,000 after purchasing an additional 1,089 shares during the period. Finally, Eastern Bank raised its stake in BB&T by 1.9% during the second quarter. Eastern Bank now owns 59,790 shares of the insurance provider’s stock worth $3,015,000 after purchasing an additional 1,140 shares during the period. 64.96% of the stock is currently owned by institutional investors and hedge funds.

BBT has been the topic of a number of recent analyst reports. Stephens reaffirmed a “buy” rating and set a $59.00 price target on shares of BB&T in a research note on Friday, July 20th. B. Riley cut their price target on shares of BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Zacks Investment Research raised shares of BB&T from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, October 3rd. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $52.00 target price on shares of BB&T in a research note on Friday, July 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. BB&T presently has a consensus rating of “Buy” and a consensus price target of $55.50.

Shares of BBT stock traded up $0.63 during mid-day trading on Friday, reaching $50.76. The company’s stock had a trading volume of 8,034,420 shares, compared to its average volume of 5,718,692. The company has a market cap of $38.65 billion, a PE ratio of 16.17, a P/E/G ratio of 1.25 and a beta of 0.94. BB&T Co. has a 12-month low of $45.73 and a 12-month high of $56.31. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. Equities research analysts expect that BB&T Co. will post 3.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Thursday, November 8th. BB&T’s payout ratio is 51.59%.

In related news, Director Nido R. Qubein sold 2,825 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total transaction of $141,786.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director I. Patricia Henry sold 611 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total transaction of $30,244.50. Following the sale, the director now directly owns 4,375 shares of the company’s stock, valued at $216,562.50. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

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BB&T Company Profile

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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