BB&T Co. (BBT) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in shares of BB&T Co. (NYSE:BBT) by 17.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,390 shares of the insurance provider’s stock after selling 13,354 shares during the period. Sumitomo Life Insurance Co.’s holdings in BB&T were worth $3,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. IMA Wealth Inc. bought a new stake in shares of BB&T in the 2nd quarter valued at about $116,000. First PREMIER Bank lifted its stake in shares of BB&T by 64.9% in the 2nd quarter. First PREMIER Bank now owns 2,540 shares of the insurance provider’s stock valued at $128,000 after acquiring an additional 1,000 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new stake in shares of BB&T in the 1st quarter valued at about $155,000. ClariVest Asset Management LLC bought a new stake in shares of BB&T in the 2nd quarter valued at about $167,000. Finally, Whittier Trust Co. lifted its stake in shares of BB&T by 591.3% in the 2nd quarter. Whittier Trust Co. now owns 4,300 shares of the insurance provider’s stock valued at $170,000 after acquiring an additional 3,678 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Shares of BBT stock traded up $0.87 during midday trading on Thursday, reaching $48.58. 62,736 shares of the stock were exchanged, compared to its average volume of 3,748,089. BB&T Co. has a 1 year low of $44.62 and a 1 year high of $56.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05.

BB&T (NYSE:BBT) last posted its earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that BB&T Co. will post 4 earnings per share for the current year.

BBT has been the subject of a number of recent research reports. BMO Capital Markets lowered their target price on BB&T from $59.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 20th. Zacks Investment Research downgraded BB&T from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Stephens restated a “buy” rating and set a $59.00 price target on shares of BB&T in a report on Friday, July 20th. FIG Partners downgraded BB&T from an “outperform” rating to a “market perform” rating in a report on Friday, July 20th. Finally, B. Riley reduced their price target on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.63.

In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the company’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 transaction of $155,577.90. Following the transaction, the insider now owns 14,911 shares in the company, valued at approximately $768,662.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

BB&T Profile

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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