California State Teachers Retirement System Sells 27,298 Shares of BB&T Co. (BBT)
California State Teachers Retirement System reduced its stake in BB&T Co. (NYSE:BBT) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 1,403,236 shares of the insurance provider’s stock after selling 27,298 shares during the period. California State Teachers Retirement System’s holdings in BB&T were worth $69,769,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Delpha Capital Management LLC purchased a new stake in shares of BB&T in the fourth quarter valued at $106,000. Kistler Tiffany Companies LLC lifted its position in shares of BB&T by 102.6% in the fourth quarter. Kistler Tiffany Companies LLC now owns 2,356 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 1,193 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of BB&T in the fourth quarter valued at $123,000. Shamrock Asset Management LLC purchased a new stake in shares of BB&T in the fourth quarter valued at $123,000. Finally, Front Row Advisors LLC purchased a new stake in shares of BB&T in the fourth quarter valued at $142,000. Institutional investors and hedge funds own 63.98% of the company’s stock.
Shares of BB&T Co. (NYSE:BBT) opened at $55.38 on Wednesday. The company has a market capitalization of $43,273.01, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.86 and a current ratio of 0.87. BB&T Co. has a 12 month low of $41.17 and a 12 month high of $56.31.
The business also recently announced a None dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Tuesday, March 6th will be paid a $0.045 dividend. The ex-dividend date is Monday, March 5th. This represents a dividend yield of 2.37%. BB&T’s dividend payout ratio (DPR) is currently 48.18%.
In other news, Director I. Patricia Henry sold 2,825 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $55.20, for a total value of $155,940.00. Following the completion of the sale, the director now owns 4,375 shares in the company, valued at $241,500. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nido R. Qubein sold 21,025 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $54.50, for a total value of $1,145,862.50. Following the completion of the sale, the director now owns 59,513 shares of the company’s stock, valued at approximately $3,243,458.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,078 shares of company stock valued at $9,316,414. Insiders own 0.36% of the company’s stock.
Several research firms recently weighed in on BBT. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 target price on shares of BB&T in a research report on Thursday, December 14th. Wells Fargo & Co set a $51.00 target price on BB&T and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, January 2nd. Barclays increased their target price on BB&T from $51.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $50.00 target price on shares of BB&T in a research report on Wednesday, January 3rd. Fifteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. BB&T currently has an average rating of “Hold” and an average price target of $53.81.
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BB&T 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.
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