Westover Capital Advisors LLC trimmed its holdings in BB&T Corporation (NYSE:BBT) by 8.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,011 shares of the insurance provider’s stock after selling 5,291 shares during the quarter. BB&T Corporation comprises 1.8% of Westover Capital Advisors LLC’s portfolio, making the stock its 20th biggest holding. Westover Capital Advisors LLC’s holdings in BB&T Corporation were worth $2,680,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BBT. Signature Estate & Investment Advisors LLC bought a new position in shares of BB&T Corporation in the second quarter valued at about $111,000. Community Bank N.A. raised its holdings 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 valued at $112,000 after buying an additional 144 shares during the last quarter. Liberty Capital Management Inc. bought a new position in shares of BB&T Corporation in the second quarter valued at about $136,000. Guardian Life Insurance Co. of America raised its holdings 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 valued at $140,000 after buying an additional 21 shares during the last quarter. Finally, Oakworth Capital Inc. raised its holdings 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 valued at $140,000 after buying an additional 1,045 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

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In other BB&T Corporation news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total value of $410,556.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’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 value of $865,606.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,610 shares of company stock valued at $2,618,364. 0.36% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on BBT shares. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of BB&T Corporation in a report on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a report on Friday, September 15th. 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 report on Friday, August 4th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $48.00 price objective on shares of BB&T Corporation in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. BB&T Corporation presently has an average rating of “Hold” and a consensus target price of $47.80.

Shares of BB&T Corporation (NYSE BBT) traded down 0.21% during trading on Friday, hitting $47.52. The company had a trading volume of 1,185,212 shares. The stock has a 50-day moving average of $45.61 and a 200 day moving average of $44.76. BB&T Corporation has a 12-month low of $37.40 and a 12-month high of $49.88. The stock has a market capitalization of $38.40 billion, a price-to-earnings ratio of 17.74 and a beta of 1.07.

BB&T Corporation (NYSE:BBT) last issued its earnings results on Thursday, July 20th. The insurance provider reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. On average, analysts predict that BB&T Corporation will post $2.80 EPS for the current fiscal year.

BB&T Corporation declared that its Board of Directors has initiated a stock 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 reacquire up to 5.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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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