BB&T (NYSE:BBT) had its target price raised by research analysts at Barclays from $51.00 to $57.00 in a report issued on Tuesday. The firm currently has an “equal weight” rating on the insurance provider’s stock. Barclays’ price target suggests a potential upside of 14.64% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday. FBR & Co set a $48.00 price target on BB&T and gave the stock a “hold” rating in a research report on Friday, October 20th. Stephens raised BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research report on Thursday, October 5th. Piper Jaffray Companies reissued a “hold” rating and set a $48.00 price target on shares of BB&T in a research report on Sunday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on BB&T from $48.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.39.
BB&T (BBT) traded down $0.40 on Tuesday, hitting $49.72. The stock had a trading volume of 2,626,200 shares, compared to its average volume of 4,337,438. BB&T has a fifty-two week low of $41.17 and a fifty-two week high of $51.11. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.78. The company has a market cap of $39,225.15, a P/E ratio of 18.48, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99.
In other BB&T news, EVP W Bennett Bradley sold 7,762 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $48.16, for a total value of $373,817.92. Following the completion of the sale, the executive vice president now directly owns 24,341 shares in the company, valued at $1,172,262.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donna C. Goodrich sold 26,869 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $49.13, for a total value of $1,320,073.97. Following the completion of the sale, the insider now owns 78,589 shares of the company’s stock, valued at $3,861,077.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,150 shares of company stock valued at $8,712,859. 0.36% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of BB&T by 3,687.8% in the second quarter. Janus Henderson Group PLC now owns 4,085,012 shares of the insurance provider’s stock worth $185,500,000 after purchasing an additional 3,977,166 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of BB&T by 2.4% in the second quarter. Vanguard Group Inc. now owns 55,519,721 shares of the insurance provider’s stock worth $2,521,151,000 after purchasing an additional 1,325,018 shares during the last quarter. American Century Companies Inc. raised its stake in shares of BB&T by 12.6% in the third quarter. American Century Companies Inc. now owns 8,117,000 shares of the insurance provider’s stock worth $381,012,000 after purchasing an additional 910,225 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of BB&T in the second quarter worth about $680,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of BB&T in the third quarter worth about $27,849,000. Institutional investors own 65.28% of the company’s stock.
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BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
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