First Manhattan Co. Increases Stake in BB&T Co. (NYSE:BBT)

First Manhattan Co. raised its position in shares of BB&T Co. (NYSE:BBT) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,035 shares of the insurance provider’s stock after buying an additional 311 shares during the period. First Manhattan Co.’s holdings in BB&T were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BBT. Financial Advantage Inc. bought a new position in shares of BB&T during the fourth quarter worth $27,000. Athena Capital Advisors LLC acquired a new stake in shares of BB&T during the fourth quarter worth $28,000. Sontag Advisory LLC acquired a new stake in shares of BB&T during the fourth quarter worth $28,000. Truvestments Capital LLC acquired a new stake in shares of BB&T during the first quarter worth $30,000. Finally, Destination Wealth Management increased its stake in BB&T by 375.0% in the 4th quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after buying an additional 570 shares during the last quarter. 65.07% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on BBT shares. Bank of America upgraded shares of BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price target on the stock in a research note on Friday, February 8th. Odeon Capital Group initiated coverage on shares of BB&T in a report on Friday, March 8th. They set a “buy” rating for the company. ValuEngine downgraded shares of BB&T from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Deutsche Bank raised shares of BB&T from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Monday, March 25th. Finally, BMO Capital Markets upped their price target on shares of BB&T from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, February 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.49.

NYSE BBT traded up $0.36 on Friday, hitting $49.86. The company’s stock had a trading volume of 3,624,901 shares, compared to its average volume of 4,598,296. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 0.88. BB&T Co. has a 1-year low of $40.68 and a 1-year high of $56.03. The stock has a market cap of $37.91 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, April 18th. The insurance provider reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. BB&T had a net margin of 23.68% and a return on equity of 12.16%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. Analysts predict that BB&T Co. will post 4.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Tuesday, May 14th. BB&T’s dividend payout ratio (DPR) is 40.00%.

In other BB&T news, VP Cynthia B. Powell sold 2,651 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $49.22, for a total value of $130,482.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick C. Graney III bought 3,890 shares of the stock in a transaction dated Thursday, February 28th. The stock was purchased at an average price of $51.04 per share, with a total value of $198,545.60. Following the acquisition, 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. Insiders sold 10,647 shares of company stock worth $534,461 over the last ninety days. Insiders own 0.49% of the company’s stock.

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About BB&T

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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