Cullinan Associates Inc. Cuts Stake in BB&T Co. (BBT)

Cullinan Associates Inc. lowered its position in shares of BB&T Co. (NYSE:BBT) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,418 shares of the insurance provider’s stock after selling 4,484 shares during the period. Cullinan Associates Inc.’s holdings in BB&T were worth $9,194,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in BB&T by 19.2% in the second quarter. Toronto Dominion Bank now owns 503,426 shares of the insurance provider’s stock valued at $25,387,000 after purchasing an additional 81,234 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in BB&T by 3.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 304,053 shares of the insurance provider’s stock valued at $15,336,000 after purchasing an additional 9,097 shares during the last quarter. Unigestion Holding SA purchased a new position in BB&T in the second quarter valued at about $17,754,000. Strs Ohio grew its stake in BB&T by 3.3% in the second quarter. Strs Ohio now owns 942,393 shares of the insurance provider’s stock valued at $47,534,000 after purchasing an additional 29,812 shares during the last quarter. Finally, Cypress Capital Group grew its stake in BB&T by 62.7% in the second quarter. Cypress Capital Group now owns 10,225 shares of the insurance provider’s stock valued at $516,000 after purchasing an additional 3,940 shares during the last quarter. Hedge funds and other institutional investors own 64.75% of the company’s stock.

NYSE BBT traded up $0.75 during trading on Friday, hitting $49.03. The company’s stock had a trading volume of 447,292 shares, compared to its average volume of 3,780,399. 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 cap of $36.95 billion, a PE ratio of 15.56, a P/E/G ratio of 1.17 and a beta of 1.05. 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 issued its quarterly earnings results on Thursday, October 18th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. BB&T had a return on equity of 11.02% and a net margin of 22.53%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. On average, sell-side analysts predict that BB&T Co. will post 4 earnings per share for the current fiscal year.

In other BB&T news, insider Donta L. Wilson sold 3,018 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $51.55, for a total value of $155,577.90. Following the completion of the sale, the insider now owns 14,911 shares of the company’s stock, valued at $768,662.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by company insiders.

BBT has been the topic of several analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $59.00 target price on shares of BB&T in a research note on Thursday, July 12th. Zacks Investment Research upgraded BB&T from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, October 3rd. B. Riley cut their target price on BB&T from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. FIG Partners lowered BB&T from an “outperform” rating to a “market perform” rating in a research note on Friday, July 20th. Finally, ValuEngine lowered BB&T from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.58.

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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