Physicians Financial Services Inc. boosted its holdings in shares of BB&T Co. (NYSE:BBT) by 947.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,443 shares of the insurance provider’s stock after purchasing an additional 39,294 shares during the period. BB&T accounts for approximately 1.3% of Physicians Financial Services Inc.’s holdings, making the stock its 24th largest holding. Physicians Financial Services Inc.’s holdings in BB&T were worth $2,021,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in BBT. Worldquant Millennium Quantitative Strategies LLC lifted its holdings in BB&T by 46.0% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 41,659 shares of the insurance provider’s stock worth $1,805,000 after acquiring an additional 13,120 shares in the last quarter. Caxton Associates LP lifted its holdings in BB&T by 60.8% during the fourth quarter. Caxton Associates LP now owns 12,686 shares of the insurance provider’s stock worth $550,000 after acquiring an additional 4,795 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in BB&T by 31.6% during the third quarter. Mackenzie Financial Corp now owns 9,412 shares of the insurance provider’s stock worth $457,000 after acquiring an additional 2,262 shares in the last quarter. Covington Capital Management bought a new position in BB&T during the fourth quarter worth about $51,000. Finally, Rowland & Co. Investment Counsel ADV lifted its holdings in BB&T by 2.1% during the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 120,516 shares of the insurance provider’s stock worth $5,221,000 after acquiring an additional 2,427 shares in the last quarter. 65.14% of the stock is owned by hedge funds and other institutional investors.
NYSE BBT traded up $0.43 during trading on Friday, reaching $50.97. 3,775,799 shares of the company’s stock were exchanged, compared to its average volume of 5,938,567. The company has a market cap of $39.04 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89. BB&T Co. has a fifty-two week low of $40.68 and a fifty-two week high of $56.03.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, May 14th. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Raymond James lowered BB&T from an “outperform” rating to a “market perform” rating and set a $48.49 price target on the stock. in a report on Thursday, April 4th. FIG Partners upgraded BB&T from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, February 8th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank upgraded BB&T from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Monday, March 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. BB&T presently has an average rating of “Hold” and an average target price of $53.49.
In other news, Director Patrick C. Graney III bought 3,890 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were bought at an average price of $51.04 per share, with a total value of $198,545.60. Following the completion of the transaction, the director now owns 11,456 shares of the company’s stock, valued at $584,714.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 2,289 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.57, for a total value of $118,043.73. The disclosure for this sale can be found here. Insiders sold 7,229 shares of company stock worth $366,432 in the last ninety days. 0.49% of the stock is owned by company insiders.
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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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