Gamco Investors INC. ET AL trimmed its holdings in shares of BB&T Co. (NYSE:BBT) by 40.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the insurance provider’s stock after selling 7,000 shares during the period. Gamco Investors INC. ET AL’s holdings in BB&T were worth $510,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BBT. Zions Bancorporation acquired a new stake in BB&T in the 3rd quarter valued at about $102,000. IMA Wealth Inc. acquired a new stake in BB&T in the 2nd quarter valued at about $116,000. ClariVest Asset Management LLC acquired a new stake in BB&T in the 2nd quarter valued at about $167,000. Whittier Trust Co. lifted its stake in BB&T by 591.3% in the 2nd quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Bridgeworth LLC acquired a new stake in BB&T in the 2nd quarter valued at about $197,000. Institutional investors own 65.15% of the company’s stock.

In other BB&T news, Director I. Patricia Henry sold 611 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $49.50, for a total value of $30,244.50. Following the transaction, the director now directly owns 4,375 shares of the company’s stock, valued at approximately $216,562.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nido R. Qubein sold 2,825 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $50.19, for a total transaction of $141,786.75. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on BBT. B. Riley cut their target price on shares of BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Zacks Investment Research downgraded shares of BB&T from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. ValuEngine downgraded shares of BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Stephens reiterated a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Friday, July 20th. Finally, FIG Partners downgraded shares of BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. BB&T has a consensus rating of “Buy” and a consensus target price of $55.50.

BB&T stock opened at $51.33 on Friday. The stock has a market capitalization of $39.36 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.27 and a beta of 0.94. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. BB&T Co. has a twelve month low of $45.93 and a twelve month high of $56.31.

BB&T (NYSE:BBT) last released its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.01. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. BB&T had a net margin of 23.52% and a return on equity of 11.66%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities analysts forecast that BB&T Co. will post 3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be issued a $0.405 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.62 annualized dividend and a yield of 3.16%. BB&T’s dividend payout ratio is currently 51.59%.

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BB&T Profile

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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