Greenwood Capital Associates LLC increased its stake in shares of BB&T Corporation (NYSE:BBT) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,723 shares of the insurance provider’s stock after buying an additional 209 shares during the period. Greenwood Capital Associates LLC’s holdings in BB&T Corporation were worth $4,029,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in BB&T Corporation by 3.4% in the first quarter. Legal & General Group Plc now owns 3,892,901 shares of the insurance provider’s stock valued at $174,020,000 after buying an additional 126,549 shares during the period. Heritage Trust Co acquired a new position in shares of BB&T Corporation during the first quarter valued at approximately $2,371,000. HRT Financial LLC increased its position in shares of BB&T Corporation by 26.2% in the first quarter. HRT Financial LLC now owns 9,179 shares of the insurance provider’s stock valued at $410,000 after buying an additional 1,908 shares during the last quarter. Peapack Gladstone Financial Corp increased its position in shares of BB&T Corporation by 4.8% in the first quarter. Peapack Gladstone Financial Corp now owns 270,317 shares of the insurance provider’s stock valued at $12,083,000 after buying an additional 12,302 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in shares of BB&T Corporation by 47.5% in the first quarter. Glen Harbor Capital Management LLC now owns 23,426 shares of the insurance provider’s stock valued at $1,047,000 after buying an additional 7,548 shares during the last quarter. Institutional investors own 64.30% of the company’s stock.

Shares of BB&T Corporation (BBT) opened at 46.30 on Thursday. The firm’s 50-day moving average price is $46.47 and its 200 day moving average price is $45.21. BB&T Corporation has a 52 week low of $36.80 and a 52 week high of $49.88. The company has a market capitalization of $37.41 billion, a PE ratio of 17.28 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last announced its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities analysts predict that BB&T Corporation will post $2.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be paid a dividend of $0.33 per share. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. BB&T Corporation’s dividend payout ratio is presently 49.25%.

BB&T Corporation declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Greenwood Capital Associates LLC Has $4.03 Million Position in BB&T Corporation (BBT)” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/31/greenwood-capital-associates-llc-has-4-03-million-position-in-bbt-corporation-bbt.html.

Several brokerages have recently commented on BBT. Robert W. Baird restated a “hold” rating and issued a $45.00 price objective on shares of BB&T Corporation in a research report on Friday, August 25th. BidaskClub downgraded BB&T Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Wells Fargo & Company began coverage on BB&T Corporation in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 price objective on the stock. Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price objective on the stock in a research report on Friday, August 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. BB&T Corporation has an average rating of “Hold” and a consensus target price of $47.06.

In related news, EVP William Rufus Yates sold 28,515 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were 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 of the company’s stock, valued at $1,642,131.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Hudson Weaver sold 8,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $46.91, for a total transaction of $410,556.32. The disclosure for this sale can be found here. Insiders have sold 55,610 shares of company stock worth $2,618,364 in the last three months. 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.

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

Receive News & Stock Ratings for BB&T Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T Corporation and related stocks with our FREE daily email newsletter.