Camden National Bank raised its stake in BB&T Co. (NYSE:BBT) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,416 shares of the insurance provider’s stock after buying an additional 1,735 shares during the period. BB&T accounts for 1.9% of Camden National Bank’s holdings, making the stock its 27th largest holding. Camden National Bank’s holdings in BB&T were worth $8,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. Capital Investment Advisory Services LLC lifted its holdings in shares of BB&T by 3.5% during the second quarter. Capital Investment Advisory Services LLC now owns 22,211 shares of the insurance provider’s stock worth $1,120,000 after purchasing an additional 746 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in BB&T by 7.3% in the second quarter. Cornerstone Wealth Group LLC now owns 8,099 shares of the insurance provider’s stock valued at $398,000 after buying an additional 549 shares during the period. SRS Capital Advisors Inc. acquired a new position in BB&T in the second quarter valued at $217,000. Corient Capital Partners LLC lifted its holdings in BB&T by 3.1% in the second quarter. Corient Capital Partners LLC now owns 48,615 shares of the insurance provider’s stock valued at $2,388,000 after buying an additional 1,479 shares during the period. Finally, Hallmark Capital Management Inc. increased its stake in BB&T by 14.6% in the second quarter. Hallmark Capital Management Inc. now owns 44,133 shares of the insurance provider’s stock valued at $2,168,000 after purchasing an additional 5,630 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.
Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. UBS Group decreased their target price on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Co set a $55.00 price target on shares of BB&T and gave the stock a “buy” rating in a research note on Friday, August 16th. Deutsche Bank set a $59.00 price objective on BB&T and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley set a $51.00 price objective on shares of BB&T and gave the company a “hold” rating in a report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BB&T has an average rating of “Buy” and a consensus target price of $53.95.
Shares of BB&T stock traded up $0.22 during trading on Friday, reaching $53.01. 613,982 shares of the stock were exchanged, compared to its average volume of 4,355,941. 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 stock’s fifty day moving average is $48.10 and its 200 day moving average is $48.91. The firm has a market cap of $39.26 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.05.
BB&T (NYSE:BBT) last posted its earnings results on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion during 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%. BB&T’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Equities analysts forecast that BB&T Co. will post 4.24 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Tuesday, August 13th. BB&T’s dividend payout ratio (DPR) is currently 44.44%.
In other news, insider David Hudson Weaver sold 21,705 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction on Sunday, September 1st. The shares were sold at an average price of $25.00, for a total transaction of $112,500.00. The disclosure for this sale can be found here. Company 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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