Dean Investment Associates LLC Grows Holdings in BB&T Co. (BBT)
Dean Investment Associates LLC grew its stake in BB&T Co. (NYSE:BBT) by 9.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 77,813 shares of the insurance provider’s stock after buying an additional 6,642 shares during the quarter. Dean Investment Associates LLC’s holdings in BB&T were worth $3,621,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BBT. Norges Bank purchased a new position in BB&T in the 4th quarter worth approximately $302,329,000. BlackRock Inc. grew its stake in BB&T by 8.3% in the 4th quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock worth $2,321,062,000 after buying an additional 4,086,502 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in BB&T by 4,179.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,647,587 shares of the insurance provider’s stock worth $84,000 after buying an additional 3,562,345 shares in the last quarter. Boston Partners grew its stake in BB&T by 59.9% in the 1st quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock worth $266,982,000 after buying an additional 2,150,335 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in BB&T by 46.0% in the 4th quarter. Bahl & Gaynor Inc. now owns 5,561,520 shares of the insurance provider’s stock worth $240,925,000 after buying an additional 1,753,162 shares in the last quarter. 67.65% of the stock is owned by institutional investors and hedge funds.
In other BB&T news, Director Patrick C. Graney III acquired 3,890 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was bought at an average price of $51.04 per share, with a total value of $198,545.60. Following the purchase, the director now owns 11,456 shares of the company’s stock, valued at $584,714.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director I. Patricia Henry sold 2,289 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $51.51, for a total transaction of $117,906.39. Following the completion of the sale, the director now directly owns 4,543 shares of the company’s stock, valued at approximately $234,009.93. The disclosure for this sale can be found here. Insiders sold a total of 8,358 shares of company stock valued at $416,417 in the last ninety days. 0.49% of the stock is owned by corporate insiders.
BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that BB&T Co. will post 4.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.31%. BB&T’s dividend payout ratio (DPR) is 40.00%.
A number of research firms have commented on BBT. ValuEngine raised shares of BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Deutsche Bank raised shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Monday, March 25th. BMO Capital Markets boosted their price target on shares of BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, February 11th. FIG Partners raised shares of BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Friday, February 8th. Finally, Raymond James cut shares of BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price target for the company. in a research note on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. BB&T presently has an average rating of “Hold” and a consensus price target of $53.49.
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BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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