Ballentine Partners LLC Boosts Position in BB&T Co. (NYSE:BBT)

Ballentine Partners LLC increased its holdings in shares of BB&T Co. (NYSE:BBT) by 10.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,488 shares of the insurance provider’s stock after purchasing an additional 614 shares during the quarter. Ballentine Partners LLC’s holdings in BB&T were worth $346,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of BB&T by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock worth $3,006,637,000 after purchasing an additional 1,125,819 shares during the last quarter. Bank of America Corp DE increased its position in shares of BB&T by 6.8% during the 2nd quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock worth $926,077,000 after purchasing an additional 1,203,362 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of BB&T by 4.3% during the 2nd quarter. Macquarie Group Ltd. now owns 15,426,112 shares of the insurance provider’s stock worth $757,885,000 after purchasing an additional 633,529 shares during the last quarter. Northern Trust Corp increased its position in shares of BB&T by 0.5% during the 2nd quarter. Northern Trust Corp now owns 11,353,698 shares of the insurance provider’s stock worth $557,808,000 after purchasing an additional 60,096 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of BB&T by 3.9% during the 2nd quarter. Royal Bank of Canada now owns 8,082,503 shares of the insurance provider’s stock worth $397,092,000 after purchasing an additional 301,500 shares during the last quarter. 70.11% of the stock is owned by hedge funds and other institutional investors.

In other news, Director K. David Jr. Boyer sold 4,285 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.64, for a total transaction of $225,562.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nido R. Qubein sold 4,500 shares of the business’s stock in a transaction dated Sunday, September 1st. The stock was sold at an average price of $25.00, for a total value of $112,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,099,147 shares of company stock valued at $714,407,173. 0.49% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on BBT shares. UBS Group cut their price objective on BB&T from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley set a $51.00 price objective on BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. Jefferies Financial Group raised BB&T from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $58.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their target price on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Co set a $55.00 target price on BB&T and gave the company a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. BB&T has an average rating of “Hold” and a consensus price target of $54.50.

NYSE BBT opened at $53.47 on Wednesday. The company has a market cap of $40.90 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a 50-day moving average of $51.74 and a two-hundred day moving average of $49.59. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $53.97.

BB&T (NYSE:BBT) last released its earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.04. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.99 billion. BB&T had a return on equity of 12.25% and a net margin of 23.17%. BB&T’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, analysts anticipate that BB&T Co. will post 4.24 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.37%. BB&T’s dividend payout ratio is currently 44.44%.

About BB&T

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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