BB&T Co. (NYSE:BBT) Holdings Decreased by State of Tennessee Treasury Department

State of Tennessee Treasury Department lowered its stake in shares of BB&T Co. (NYSE:BBT) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 534,714 shares of the insurance provider’s stock after selling 8,620 shares during the period. State of Tennessee Treasury Department owned 0.07% of BB&T worth $24,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Worldquant Millennium Quantitative Strategies LLC raised its holdings in shares of BB&T by 46.0% during the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 41,659 shares of the insurance provider’s stock valued at $1,805,000 after buying an additional 13,120 shares during the period. Raymond James & Associates raised its holdings in shares of BB&T by 13.5% during the 1st quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock valued at $114,846,000 after buying an additional 292,660 shares during the period. Caxton Associates LP raised its holdings in shares of BB&T by 60.8% during the 4th quarter. Caxton Associates LP now owns 12,686 shares of the insurance provider’s stock valued at $550,000 after buying an additional 4,795 shares during the period. Parallel Advisors LLC raised its holdings in shares of BB&T by 83.2% during the 1st quarter. Parallel Advisors LLC now owns 3,107 shares of the insurance provider’s stock valued at $145,000 after buying an additional 1,411 shares during the period. Finally, Advisor Group Inc. grew its stake in BB&T by 26.7% during the 1st quarter. Advisor Group Inc. now owns 78,824 shares of the insurance provider’s stock valued at $3,670,000 after purchasing an additional 16,608 shares in the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.

In other BB&T news, VP Cynthia B. Powell sold 2,651 shares of BB&T stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $49.22, for a total transaction of $130,482.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Louis B. Lynn sold 2,500 shares of BB&T stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $48.33, for a total value of $120,825.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,569 shares of company stock worth $419,336 in the last ninety days. 0.49% of the stock is owned by company insiders.

Shares of NYSE BBT opened at $49.13 on Friday. The business has a 50 day moving average of $48.63. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a market cap of $36.90 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.19 and a beta of 1.16. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $53.08.

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, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. BB&T had a return on equity of 12.16% and a net margin of 23.68%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. Equities research analysts forecast that BB&T Co. will post 4.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, May 14th. BB&T’s payout ratio is currently 40.00%.

A number of equities research analysts have weighed in on BBT shares. Odeon Capital Group started coverage on BB&T in a research note on Friday, March 8th. They set a “buy” rating for the company. Morgan Stanley lowered their price objective on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Stephens lowered BB&T from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $45.39 price objective for the company. in a research note on Tuesday, March 26th. Finally, Raymond James lowered BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price for the company. in a research report on Thursday, April 4th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $53.49.

BB&T Profile

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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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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