Sawtooth Solutions LLC purchased a new stake in BB&T Co. (NYSE:BBT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,011 shares of the insurance provider’s stock, valued at approximately $404,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IMA Wealth Inc. acquired a new position in shares of BB&T in the second quarter valued at approximately $116,000. First PREMIER Bank raised its position in shares of BB&T by 64.9% in the second quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock valued at $128,000 after buying an additional 1,000 shares during the last quarter. Certified Advisory Corp raised its position in shares of BB&T by 399.6% in the first quarter. Certified Advisory Corp now owns 2,658 shares of the insurance provider’s stock valued at $137,000 after buying an additional 2,126 shares during the last quarter. First Republic Investment Management Inc. raised its position in shares of BB&T by 65.1% in the first quarter. First Republic Investment Management Inc. now owns 192,950 shares of the insurance provider’s stock valued at $141,000 after buying an additional 76,093 shares during the last quarter. Finally, Ostrum Asset Management acquired a new position in shares of BB&T in the first quarter valued at approximately $143,000. 65.52% of the stock is currently owned by institutional investors.

Shares of BBT stock opened at $51.53 on Friday. BB&T Co. has a one year low of $43.03 and a one year high of $56.31. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The company has a market cap of $40.36 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.11 and a beta of 1.03.

BB&T (NYSE:BBT) last released its quarterly earnings data on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). BB&T had a return on equity of 11.02% and a net margin of 22.53%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. BB&T’s quarterly revenue was up .8% compared to the same quarter last year. research analysts anticipate that BB&T Co. will post 3.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.405 per share. This is an increase from BB&T’s previous quarterly dividend of $0.38. This represents a $1.62 annualized dividend and a yield of 3.14%. The ex-dividend date is Thursday, August 9th. BB&T’s payout ratio is currently 51.59%.

In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $51.55, for a total transaction of $155,577.90. Following the completion of the sale, the insider now directly owns 14,911 shares in the company, valued at $768,662.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $52.34, for a total transaction of $130,850.00. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

A number of research firms have recently weighed in on BBT. Stephens reissued a “buy” rating and issued a $59.00 price objective on shares of BB&T in a research report on Friday, July 20th. ValuEngine lowered shares of BB&T from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. BMO Capital Markets cut their price objective on shares of BB&T from $59.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $52.00 price objective on shares of BB&T in a research report on Friday, July 20th. Finally, FIG Partners lowered shares of BB&T from an “outperform” rating to a “market perform” rating in a research report on Friday, July 20th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.70.

About BB&T

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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

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