Capital Management Corp VA Purchases Shares of 8,400 BB&T Co. (BBT)

Capital Management Corp VA purchased a new position in shares of BB&T Co. (NYSE:BBT) during the first quarter, Holdings Channel reports. The fund purchased 8,400 shares of the insurance provider’s stock, valued at approximately $412,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc boosted its position in BB&T by 1.6% in the third quarter. Vanguard Group Inc now owns 59,282,776 shares of the insurance provider’s stock valued at $2,877,586,000 after buying an additional 939,154 shares during the last quarter. BlackRock Inc. boosted its position in BB&T by 8.3% in the fourth quarter. BlackRock Inc. now owns 53,579,497 shares of the insurance provider’s stock valued at $2,321,062,000 after buying an additional 4,086,502 shares during the last quarter. Macquarie Group Ltd. boosted its position in BB&T by 1.1% in the fourth quarter. Macquarie Group Ltd. now owns 14,568,592 shares of the insurance provider’s stock valued at $631,112,000 after buying an additional 162,458 shares during the last quarter. Northern Trust Corp boosted its position in BB&T by 1.7% in the fourth quarter. Northern Trust Corp now owns 11,129,669 shares of the insurance provider’s stock valued at $482,138,000 after buying an additional 181,065 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in BB&T by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after buying an additional 590,366 shares during the last quarter. Institutional investors and hedge funds own 65.17% of the company’s stock.

Shares of NYSE:BBT opened at $50.21 on Friday. BB&T Co. has a 12-month low of $40.68 and a 12-month high of $56.03. The company has a market capitalization of $37.84 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.22 and a beta of 1.13. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.88 and a quick ratio of 0.87.

BB&T (NYSE:BBT) last announced its quarterly earnings results 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 return on equity of 12.16% and a net margin of 23.68%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $0.94 earnings per share. BB&T’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that BB&T Co. will post 4.31 EPS for the current year.

A number of brokerages recently commented on BBT. Morgan Stanley dropped their target price on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday. Raymond James lowered BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 target price on the stock. in a research report on Thursday, April 4th. Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $45.39 target price on the stock. in a research report on Tuesday, March 26th. ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Odeon Capital Group began coverage on BB&T in a research report on Friday, March 8th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.49.

In other news, Director K. David Jr. Boyer sold 2,289 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total transaction of $118,043.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick C. Graney III bought 3,890 shares of BB&T stock in a transaction dated Thursday, February 28th. The shares were acquired at an average cost of $51.04 per share, with a total value of $198,545.60. Following the completion of the purchase, the director now owns 11,456 shares in the company, valued at $584,714.24. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

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BB&T Company Profile

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

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