BB&T (NYSE:BBT) Reaches New 52-Week High Following Dividend Announcement

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BB&T Co. (NYSE:BBT) shares hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $53.95 and last traded at $53.79, with a volume of 165496 shares traded. The stock had previously closed at $53.45.

The newly announced dividend which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.37%. BB&T’s payout ratio is 44.44%.

BBT has been the subject of several recent research reports. ValuEngine raised BB&T from a “sell” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. UBS Group decreased their price target on BB&T from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday. Deutsche Bank set a $59.00 price target on BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group raised BB&T from a “hold” rating to a “buy” rating and increased their price target for the company from $52.00 to $58.00 in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. BB&T has a consensus rating of “Buy” and a consensus price target of $54.50.

The firm has a 50 day moving average of $51.86 and a 200 day moving average of $49.62. The firm has a market cap of $40.95 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.72 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.87.

BB&T (NYSE:BBT) last released its earnings results on Thursday, October 17th. The insurance provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.03 by $0.04. BB&T had a return on equity of 12.25% and a net margin of 23.17%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Equities analysts expect that BB&T Co. will post 4.24 EPS for the current year.

In other BB&T news, Director Nido R. Qubein sold 4,500 shares of the firm’s stock in a transaction that occurred on Sunday, September 1st. The stock was sold at an average price of $25.00, for a total value of $112,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. Insiders have sold 25,077,442 shares of company stock valued at $713,290,667 in the last ninety days. 0.49% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in BBT. FMR LLC grew its stake in BB&T by 7.3% in the first quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock valued at $16,284,000 after acquiring an additional 23,680 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of BB&T by 14.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,248,444 shares of the insurance provider’s stock valued at $58,091,000 after purchasing an additional 159,715 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of BB&T by 5.4% in the second quarter. Fulton Bank N.A. now owns 9,854 shares of the insurance provider’s stock valued at $485,000 after purchasing an additional 509 shares in the last quarter. OLD Point Trust & Financial Services N A lifted its holdings in shares of BB&T by 3.3% in the second quarter. OLD Point Trust & Financial Services N A now owns 73,252 shares of the insurance provider’s stock valued at $3,599,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Rockland Trust Co. lifted its holdings in shares of BB&T by 21.0% in the second quarter. Rockland Trust Co. now owns 6,652 shares of the insurance provider’s stock valued at $327,000 after purchasing an additional 1,156 shares in the last quarter. 70.11% of the stock is owned by hedge funds and other institutional investors.

About BB&T (NYSE:BBT)

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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