Cornell Pochily Investment Advisors Inc. cut its position in shares of BB&T Co. (NYSE:BBT) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,011 shares of the insurance provider’s stock after selling 293 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in BB&T were worth $744,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Financial Advantage Inc. purchased a new position in BB&T in the fourth quarter valued at about $27,000. Athena Capital Advisors LLC purchased a new position in BB&T in the fourth quarter valued at about $28,000. Sontag Advisory LLC purchased a new position in BB&T in the fourth quarter valued at about $28,000. Truvestments Capital LLC purchased a new position in BB&T in the first quarter valued at about $30,000. Finally, Destination Wealth Management boosted its holdings in BB&T by 375.0% in the fourth quarter. Destination Wealth Management now owns 722 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 65.07% of the company’s stock.
Shares of NYSE:BBT opened at $49.86 on Friday. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $56.03. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.89. The firm has a market cap of $37.91 billion, a P/E ratio of 12.31, a PEG ratio of 1.21 and a beta of 1.16.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.62 annualized dividend and a yield of 3.25%. BB&T’s dividend payout ratio (DPR) is currently 40.00%.
BBT has been the topic of a number of research reports. Odeon Capital Group assumed coverage on BB&T in a research report on Friday, March 8th. They set a “buy” rating on the stock. Morgan Stanley decreased their target price on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Bank of America upgraded BB&T from a “neutral” rating to a “buy” rating and set a $50.46 price objective for the company in a report on Friday, February 8th. Stephens lowered BB&T from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Finally, Deutsche Bank lowered BB&T from a “buy” rating to a “hold” rating and set a $45.39 price objective for the company. in a report on Tuesday, March 26th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $53.49.
In other BB&T news, Director Patrick C. Graney III acquired 3,890 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were acquired at an average cost of $51.04 per share, for a total transaction of $198,545.60. Following the completion of the purchase, the director now owns 11,456 shares of the company’s stock, valued at approximately $584,714.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 2,289 shares of BB&T stock in a transaction dated Wednesday, February 20th. The stock was 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. Over the last 90 days, insiders have sold 10,647 shares of company stock worth $534,461. Corporate insiders own 0.49% of the company’s stock.
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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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