Ipswich Investment Management Co. Inc. cut its position in BB&T Co. (NYSE:BBT) by 83.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,835 shares of the insurance provider’s stock after selling 34,455 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in BB&T were worth $318,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBT. Financial Advantage Inc. acquired a new position in shares of BB&T during the 4th quarter worth $27,000. Athena Capital Advisors LLC acquired a new position in shares of BB&T during the 4th quarter worth $28,000. Sontag Advisory LLC acquired a new position in shares of BB&T during the 4th quarter worth $28,000. Truvestments Capital LLC acquired a new position in shares of BB&T during the 1st quarter worth $30,000. Finally, Destination Wealth Management raised its holdings in shares of BB&T by 375.0% during the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock worth $31,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.
BBT stock opened at $50.97 on Friday. The company has a market cap of $39.04 billion, a P/E ratio of 12.59, a PEG ratio of 1.25 and a beta of 1.16. BB&T Co. has a fifty-two week low of $40.68 and a fifty-two week high of $56.03. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88.
The business 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. This represents a $1.62 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, May 14th. BB&T’s dividend payout ratio (DPR) is presently 40.00%.
A number of equities analysts have recently commented on the company. Stephens cut BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Morgan Stanley reduced their price objective on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research 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 objective on the stock. in a research report on Thursday, April 4th. Argus reiterated a “buy” rating on shares of BB&T in a research report on Friday, January 18th. Finally, Zacks Investment Research lowered BB&T from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. 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 an average price target of $53.49.
In other news, Director K. David Jr. Boyer sold 2,289 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $51.57, for a total value of $118,043.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick C. Graney III acquired 3,890 shares of the stock in a transaction dated Thursday, February 28th. The stock was bought 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 of the company’s stock, valued at $584,714.24. The disclosure for this purchase can be found here. Over the last three months, insiders sold 7,229 shares of company stock valued at $366,432. Company insiders own 0.49% of the company’s stock.
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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