BB&T Co. (BBT) Shares Sold by CAPROCK Group Inc.

CAPROCK Group Inc. lessened its holdings in shares of BB&T Co. (NYSE:BBT) by 19.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,333 shares of the insurance provider’s stock after selling 3,129 shares during the period. CAPROCK Group Inc.’s holdings in BB&T were worth $647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Advisory Inc. acquired a new position in BB&T during the second quarter worth approximately $346,422,000. Bank of America Corp DE increased its position in BB&T by 18.0% during the second quarter. Bank of America Corp DE now owns 28,174,029 shares of the insurance provider’s stock worth $1,421,098,000 after buying an additional 4,304,522 shares during the period. Epoch Investment Partners Inc. acquired a new position in BB&T during the second quarter worth approximately $100,873,000. Royal Bank of Canada increased its position in BB&T by 50.2% during the first quarter. Royal Bank of Canada now owns 2,647,251 shares of the insurance provider’s stock worth $137,762,000 after buying an additional 885,096 shares during the period. Finally, Bank of New York Mellon Corp increased its position in BB&T by 5.5% during the second quarter. Bank of New York Mellon Corp now owns 10,461,296 shares of the insurance provider’s stock worth $527,666,000 after buying an additional 547,692 shares during the period. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:BBT traded down $0.09 during trading on Wednesday, reaching $47.00. The company had a trading volume of 30,054 shares, compared to its average volume of 3,741,871. The firm has a market cap of $37.59 billion, a P/E ratio of 14.93, a PEG ratio of 1.04 and a beta of 1.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.90. BB&T Co. has a fifty-two week low of $44.62 and a fifty-two week high of $56.31.

BB&T (NYSE:BBT) last released its earnings results on Thursday, July 19th. The insurance provider reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.02). The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.92 billion. BB&T had a net margin of 22.53% and a return on equity of 11.02%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. Research analysts forecast that BB&T Co. will post 4 EPS for the current fiscal year.

In other news, insider Donta L. Wilson sold 3,018 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the transaction, the insider now owns 14,911 shares of the company’s stock, valued at $768,662.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.51% of the company’s stock.

Several research analysts have commented on the company. B. Riley set a $56.00 price target on BB&T and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research raised BB&T from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, October 10th. ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Stephens reaffirmed a “buy” rating and set a $59.00 price target on shares of BB&T in a research report on Friday, July 20th. Finally, BMO Capital Markets cut their price target on BB&T from $59.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.63.

About BB&T

BB&T Corporation operates as a financial holding company that provides various banking and trust services for small and mid-size businesses, public agencies, local governments, and individuals. The company operates through four segments: CB-Retail, CB-Commercial, IH&PF, and FS&CF. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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Institutional Ownership by Quarter for BB&T (NYSE:BBT)

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