Zweig DiMenna Associates LLC acquired a new position in BB&T Corporation (NYSE:BBT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 242,354 shares of the insurance provider’s stock, valued at approximately $11,005,000.

Other hedge funds have also modified their holdings of the company. Community Bank N.A. increased its stake in shares of BB&T Corporation by 6.2% in the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after buying an additional 144 shares during the last quarter. Liberty Capital Management Inc. acquired a new stake in shares of BB&T Corporation during the second quarter worth about $136,000. Guardian Life Insurance Co. of America increased its stake in shares of BB&T Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock worth $140,000 after buying an additional 21 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of BB&T Corporation by 51.1% in the second quarter. Oakworth Capital Inc. now owns 3,092 shares of the insurance provider’s stock worth $140,000 after buying an additional 1,045 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new stake in shares of BB&T Corporation during the first quarter worth about $150,000. 64.30% of the stock is owned by hedge funds and other institutional investors.

BB&T Corporation (NYSE:BBT) opened at 46.15 on Monday. The stock has a market cap of $37.29 billion, a PE ratio of 17.23 and a beta of 1.07. BB&T Corporation has a 52 week low of $36.80 and a 52 week high of $49.88. The stock has a 50 day moving average price of $46.47 and a 200 day moving average price of $45.21.

BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that BB&T Corporation will post $2.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.33 per share. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, August 9th. BB&T Corporation’s dividend payout ratio (DPR) is 49.25%.

BB&T Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 5.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of analysts recently issued reports on the company. BMO Capital Markets reissued a “hold” rating and set a $48.00 price objective on shares of BB&T Corporation in a research report on Friday, June 30th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Hilliard Lyons downgraded BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Friday, July 21st. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a research report on Friday, August 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. BB&T Corporation presently has an average rating of “Hold” and an average price target of $47.19.

In other news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of BB&T Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of BB&T Corporation stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 55,610 shares of company stock worth $2,618,364. 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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Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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