Abner Herrman & Brock LLC Sells 3,487 Shares of BB&T Co. (NYSE:BBT)

Abner Herrman & Brock LLC reduced its stake in shares of BB&T Co. (NYSE:BBT) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,123 shares of the insurance provider’s stock after selling 3,487 shares during the quarter. Abner Herrman & Brock LLC’s holdings in BB&T were worth $1,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BBT. Nuveen Asset Management LLC grew its stake in shares of BB&T by 16,903.9% during the second quarter. Nuveen Asset Management LLC now owns 3,602,446 shares of the insurance provider’s stock valued at $176,988,000 after purchasing an additional 3,581,260 shares during the last quarter. Boston Partners grew its stake in shares of BB&T by 22.8% during the second quarter. Boston Partners now owns 7,046,122 shares of the insurance provider’s stock valued at $346,224,000 after purchasing an additional 1,308,268 shares during the last quarter. Bank of America Corp DE grew its stake in shares of BB&T by 6.8% during the second quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock valued at $926,077,000 after purchasing an additional 1,203,362 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BB&T by 1.9% during the second quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock valued at $3,006,637,000 after purchasing an additional 1,125,819 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in shares of BB&T by 19.5% during the second quarter. Bahl & Gaynor Inc. now owns 6,867,670 shares of the insurance provider’s stock valued at $337,408,000 after purchasing an additional 1,121,533 shares during the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.

NYSE BBT traded up $0.89 during trading hours on Friday, hitting $52.22. The company’s stock had a trading volume of 223,066 shares, compared to its average volume of 4,765,223. The stock has a fifty day moving average of $50.27 and a 200 day moving average of $49.22. 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 firm has a market capitalization of $39.06 billion, a P/E ratio of 12.89, a PEG ratio of 1.34 and a beta of 1.17. BB&T Co. has a twelve month low of $40.68 and a twelve month high of $53.90.

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 Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion for 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%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. On average, analysts predict that BB&T Co. will post 4.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 14th were issued a $0.45 dividend. This is a positive change from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 3.45%. BB&T’s dividend payout ratio (DPR) is 44.44%.

In other BB&T news, Director Nido R. Qubein sold 4,500 shares of the stock in a transaction on Sunday, September 1st. The shares were sold at an average price of $25.00, for a total value of $112,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. Over the last quarter, insiders sold 25,099,147 shares of company stock worth $714,407,173. Company insiders own 0.49% of the company’s stock.

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank set a $59.00 price objective on shares of BB&T and gave the company a “buy” rating in a report on Friday, July 26th. ValuEngine lowered shares of BB&T from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.27.

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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