South State Corp lifted its position in shares of BB&T Corporation (NYSE:BBT) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,024 shares of the insurance provider’s stock after acquiring an additional 1,306 shares during the quarter. South State Corp’s holdings in BB&T Corporation were worth $1,182,000 at the end of the most recent quarter.

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

BB&T Corporation (NYSE BBT) traded up 0.369% during mid-day trading on Tuesday, hitting $44.845. 1,887,913 shares of the stock traded hands. The firm has a market cap of $36.24 billion, a PE ratio of 16.739 and a beta of 1.08. The stock has a 50 day moving average price of $46.56 and a 200 day moving average price of $45.03. BB&T Corporation has a 12-month low of $36.80 and a 12-month high of $49.88.

BB&T Corporation (NYSE:BBT) last released its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting 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 firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, analysts expect that BB&T Corporation will post $2.84 earnings per share for the current fiscal year.

BB&T Corporation declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.88 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.95%. BB&T Corporation’s payout ratio is presently 49.25%.

Several research analysts have weighed in on the stock. BMO Capital Markets restated a “hold” rating and set a $48.00 target price on shares of BB&T Corporation in a research report on Friday, June 30th. BidaskClub upgraded shares of BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Hilliard Lyons lowered shares of BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Friday, July 21st. Macquarie upgraded shares of BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price on the stock in a research report on Friday, August 4th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of BB&T Corporation in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. BB&T Corporation currently has a consensus rating of “Hold” and a consensus price target of $47.06.

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In related news, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s 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 filing with the SEC, which is available through this hyperlink. Also, EVP William Rufus Yates sold 28,515 shares of the business’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 directly owns 34,887 shares in the company, valued at $1,642,131.09. The disclosure for this sale can be found here. Insiders have sold 55,610 shares of company stock worth $2,618,364 over the last ninety days. 0.36% of the stock is currently owned by insiders.

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.

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

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