Modera Wealth Management LLC Has $860,000 Stake in BB&T Corporation (NYSE:BBT)
Modera Wealth Management LLC increased its stake in shares of BB&T Corporation (NYSE:BBT) by 28.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 19,237 shares of the insurance provider’s stock after buying an additional 4,300 shares during the period. Modera Wealth Management LLC’s holdings in BB&T Corporation were worth $860,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Dodge & Cox acquired a new stake in shares of BB&T Corporation during the fourth quarter worth $996,945,000. FMR LLC raised its stake in shares of 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 in the last quarter. First Trust Advisors LP raised its stake in shares of 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 in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of BB&T Corporation by 469.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,022,973 shares of the insurance provider’s stock worth $45,727,000 after buying an additional 843,425 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of BB&T Corporation by 9,941.4% in the first quarter. Assenagon Asset Management S.A. now owns 651,283 shares of the insurance provider’s stock worth $29,112,000 after buying an additional 644,797 shares in the last quarter. Hedge funds and other institutional investors own 64.42% of the company’s stock.
BB&T Corporation (NYSE:BBT) traded down 0.19% during mid-day trading on Thursday, hitting $47.84. The stock had a trading volume of 2,861,420 shares. BB&T Corporation has a one year low of $36.45 and a one year high of $49.88. The firm’s 50-day moving average is $45.29 and its 200 day moving average is $45.09. The stock has a market cap of $38.66 billion, a PE ratio of 17.85 and a beta of 1.07.
BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the firm earned $0.71 earnings per share. BB&T Corporation’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that BB&T Corporation will post $2.83 EPS for the current year.
BB&T Corporation announced that its board has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.76%. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio is presently 44.78%.
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Several equities research analysts have recently commented on BBT shares. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. FBR & Co reissued a “hold” rating on shares of BB&T Corporation in a research note on Friday, April 21st. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 14th. Hilliard Lyons raised BB&T Corporation from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $51.00 to $49.00 in a research note on Monday, April 24th. Finally, BMO Capital Markets reissued a “hold” rating and set a $49.00 price target on shares of BB&T Corporation in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.43.
In other BB&T Corporation news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
About BB&T Corporation
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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