First Merchants Corp Increases Stock Position in BB&T Co. (NYSE:BBT)

First Merchants Corp increased its position in BB&T Co. (NYSE:BBT) by 6.4% in the second quarter, Holdings Channel.com reports. The fund owned 111,031 shares of the insurance provider’s stock after purchasing an additional 6,658 shares during the period. First Merchants Corp’s holdings in BB&T were worth $5,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BBT. Advisory Services Network LLC boosted its holdings in BB&T by 34.3% in the 1st quarter. Advisory Services Network LLC now owns 49,790 shares of the insurance provider’s stock valued at $2,317,000 after purchasing an additional 12,729 shares during the last quarter. ZWJ Investment Counsel Inc. raised its stake in BB&T by 4.4% during the first quarter. ZWJ Investment Counsel Inc. now owns 29,093 shares of the insurance provider’s stock worth $1,354,000 after acquiring an additional 1,228 shares in the last quarter. Raymond James & Associates raised its stake in BB&T by 13.5% during the first quarter. Raymond James & Associates now owns 2,468,226 shares of the insurance provider’s stock worth $114,846,000 after acquiring an additional 292,660 shares in the last quarter. Parallel Advisors LLC raised its stake in BB&T by 83.2% during the first quarter. Parallel Advisors LLC now owns 3,107 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in BB&T by 26.7% during the first quarter. Advisor Group Inc. now owns 78,824 shares of the insurance provider’s stock worth $3,670,000 after acquiring an additional 16,608 shares in the last quarter. Institutional investors own 68.08% of the company’s stock.

Shares of BBT stock opened at $49.35 on Monday. The business’s fifty day simple moving average is $49.90. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $37.80 billion, a PE ratio of 12.19, a PEG ratio of 1.25 and a beta of 1.12. BB&T Co. has a 52 week low of $40.68 and a 52 week high of $53.08.

BB&T (NYSE:BBT) last announced its earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities research analysts forecast that BB&T Co. will post 4.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Tuesday, August 13th. BB&T’s payout ratio is presently 40.00%.

In other BB&T news, insider Donta L. Wilson sold 3,418 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $49.16, for a total transaction of $168,028.88. Following the transaction, the insider now owns 14,911 shares of the company’s stock, valued at approximately $733,024.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total value of $120,825.00. The disclosure for this sale can be found here. Insiders have sold 27,623 shares of company stock worth $1,405,359 in the last 90 days. Company insiders own 0.49% of the company’s stock.

Several research firms have issued reports on BBT. JPMorgan Chase & Co. dropped their price objective on BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank set a $59.00 price objective on BB&T and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. UBS Group dropped their price objective on BB&T from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Morgan Stanley dropped their price objective on BB&T from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. BB&T has a consensus rating of “Hold” and a consensus price target of $54.04.

BB&T 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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