Quadrant Private Wealth Management LLC Invests $636,000 in BB&T Co. (BBT)

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Quadrant Private Wealth Management LLC acquired a new position in shares of BB&T Co. (NYSE:BBT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 12,606 shares of the insurance provider’s stock, valued at approximately $636,000.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of BB&T by 1.2% during the first quarter. BlackRock Inc. now owns 49,369,961 shares of the insurance provider’s stock worth $2,569,212,000 after buying an additional 592,656 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of BB&T by 0.9% during the first quarter. First Eagle Investment Management LLC now owns 16,798,617 shares of the insurance provider’s stock worth $874,200,000 after buying an additional 141,867 shares in the last quarter. Thomaspartners Inc. grew its holdings in shares of BB&T by 1.2% during the first quarter. Thomaspartners Inc. now owns 6,829,814 shares of the insurance provider’s stock worth $355,424,000 after buying an additional 79,193 shares in the last quarter. BB&T Corp grew its holdings in shares of BB&T by 3.4% during the second quarter. BB&T Corp now owns 3,403,813 shares of the insurance provider’s stock worth $171,688,000 after buying an additional 113,006 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of BB&T by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,811,710 shares of the insurance provider’s stock worth $146,322,000 after buying an additional 92,092 shares in the last quarter. Institutional investors and hedge funds own 63.76% of the company’s stock.

Shares of NYSE BBT opened at $50.75 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. BB&T Co. has a 12 month low of $43.03 and a 12 month high of $56.31. The company has a market cap of $39.65 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.09 and a beta of 1.03.

BB&T (NYSE:BBT) last issued its earnings results on Thursday, July 19th. The insurance provider reported $0.99 EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. research analysts expect that BB&T Co. will post 3.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders 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 dividend yield of 3.19%. The ex-dividend date is Thursday, August 9th. BB&T’s payout ratio is currently 51.59%.

In other news, insider Donta L. Wilson sold 3,018 shares of BB&T stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total transaction of $155,577.90. Following the completion of the transaction, the insider now directly owns 14,911 shares in the company, valued at approximately $768,662.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider W Bennett Bradley sold 5,565 shares of BB&T stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $55.14, for a total value of $306,854.10. Following the transaction, the insider now owns 26,407 shares of the company’s stock, valued at $1,456,081.98. The disclosure for this sale can be found here. Insiders have sold a total of 11,083 shares of company stock valued at $593,282 over the last quarter. 0.51% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on BBT shares. Stephens restated a “buy” rating and issued a $59.00 price target on shares of BB&T in a research note on Friday, July 20th. B. Riley decreased their price target on BB&T from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. BMO Capital Markets restated a “buy” rating and issued a $59.00 price target on shares of BB&T in a research note on Thursday, July 12th. Hilliard Lyons upgraded BB&T from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, April 23rd. Finally, Morgan Stanley raised their price target on BB&T from $59.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, April 20th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $54.70.

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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