BB&T Corporation (NYSE:BBT) Stake Raised by CAPROCK Group Inc.

CAPROCK Group Inc. raised its position in BB&T Corporation (NYSE:BBT) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,222 shares of the insurance provider’s stock after buying an additional 105 shares during the period. CAPROCK Group Inc.’s holdings in BB&T Corporation were worth $1,100,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BBT. BlackRock Inc. raised its position in BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock worth $2,115,732,000 after buying an additional 45,740,906 shares during the last quarter. Vanguard Group Inc. raised its position in BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after buying an additional 1,656,297 shares during the last quarter. Janus Capital Management LLC raised its position in BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock worth $149,021,000 after buying an additional 1,062,590 shares during the last quarter. FMR LLC raised its position in BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after buying an additional 998,898 shares during the last quarter. Finally, First Trust Advisors LP raised its position in BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock worth $73,405,000 after buying an additional 966,962 shares during the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.

Shares of BB&T Corporation (NYSE BBT) opened at 46.68 on Friday. BB&T Corporation has a 12-month low of $36.75 and a 12-month high of $49.88. The firm has a market capitalization of $37.72 billion, a P/E ratio of 17.42 and a beta of 1.07. The firm’s 50-day moving average price is $46.02 and its 200-day moving average price is $45.21.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that BB&T Corporation will post $2.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. BB&T Corporation’s dividend payout ratio is presently 49.25%.

BB&T Corporation announced that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.88 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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BBT has been the topic of a number of recent analyst reports. BidaskClub lowered BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $51.00 to $49.00 in a research report on Monday, April 24th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 target price on shares of BB&T Corporation in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $48.00 target price on shares of BB&T Corporation in a research report on Friday, June 30th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of BB&T Corporation in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. BB&T Corporation has an average rating of “Hold” and a consensus price target of $47.19.

In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total transaction of $1,342,201.05. Following the transaction, the executive vice president now owns 34,887 shares in the company, valued at approximately $1,642,131.09. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

BB&T Corporation Company Profile

BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.

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

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