BB&T (BBT) Reaches New 1-Year High at $51.29

Shares of BB&T Co. (NYSE:BBT) hit a new 52-week high on Thursday . The company traded as high as $51.29 and last traded at $51.30, with a volume of 1989765 shares changing hands. The stock had previously closed at $50.46.

A number of analysts have weighed in on BBT shares. Jefferies Group reissued a “hold” rating and issued a $49.00 price target on shares of BB&T in a report on Friday, September 15th. Stephens raised shares of BB&T from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, October 5th. Citigroup reissued a “neutral” rating and issued a $49.00 price target (up from $47.00) on shares of BB&T in a report on Monday, October 9th. Zacks Investment Research downgraded shares of BB&T from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, SunTrust Banks reissued a “buy” rating and issued a $50.00 price target on shares of BB&T in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. BB&T currently has an average rating of “Hold” and an average price target of $50.67.

The firm has a market capitalization of $40,380.00, a P/E ratio of 19.03, a PEG ratio of 2.06 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.86.

BB&T (NYSE:BBT) last announced its quarterly earnings data on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.85 billion. BB&T had a net margin of 19.42% and a return on equity of 9.64%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 EPS. equities analysts predict that BB&T Co. will post 3.1 earnings per share for the current year.

In related news, EVP W Bennett Bradley sold 7,762 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $48.16, for a total transaction of $373,817.92. Following the completion of the sale, the executive vice president now owns 24,341 shares in the company, valued at approximately $1,172,262.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.53, for a total transaction of $3,154,661.16. The disclosure for this sale can be found here. Insiders have sold a total of 182,150 shares of company stock valued at $8,712,859 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Aurora Investment Counsel acquired a new stake in BB&T in the 4th quarter valued at about $263,000. Atlantic Trust Group LLC increased its position in BB&T by 18.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 168,154 shares of the insurance provider’s stock valued at $7,893,000 after acquiring an additional 26,154 shares in the last quarter. AXA increased its position in BB&T by 1.7% in the 3rd quarter. AXA now owns 519,291 shares of the insurance provider’s stock valued at $24,375,000 after acquiring an additional 8,804 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in BB&T by 0.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 8,382,444 shares of the insurance provider’s stock valued at $393,472,000 after acquiring an additional 27,138 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in BB&T in the 3rd quarter valued at about $718,000. Institutional investors and hedge funds own 65.28% of the company’s stock.

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BB&T Company Profile

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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