Camden National Bank Purchases 1,457 Shares of BB&T Co. (NYSE:BBT)

Camden National Bank raised its position in shares of BB&T Co. (NYSE:BBT) by 0.9% in the third quarter, Holdings Channel reports. The fund owned 169,873 shares of the insurance provider’s stock after buying an additional 1,457 shares during the quarter. BB&T comprises approximately 2.0% of Camden National Bank’s investment portfolio, making the stock its 26th biggest holding. Camden National Bank’s holdings in BB&T were worth $9,066,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of BB&T in the second quarter valued at about $26,000. Marino Stram & Associates LLC bought a new stake in shares of BB&T in the first quarter valued at about $32,000. Capital Bank & Trust Co lifted its stake in shares of BB&T by 49.6% in the second quarter. Capital Bank & Trust Co now owns 935 shares of the insurance provider’s stock valued at $46,000 after buying an additional 310 shares during the period. Westside Investment Management Inc. bought a new stake in shares of BB&T in the second quarter valued at about $48,000. Finally, NuWave Investment Management LLC bought a new stake in shares of BB&T in the second quarter valued at about $57,000. Institutional investors own 70.16% of the company’s stock.

BBT has been the subject of several research reports. Jefferies Financial Group upgraded shares of BB&T from a “hold” rating to a “buy” rating and increased their target price for the company from $52.00 to $58.00 in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co set a $55.00 target price on shares of BB&T and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank set a $59.00 target price on shares of BB&T and gave the company a “buy” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $54.27.

In related news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.44, for a total value of $712,952,605.08. Also, Director K. David Jr. Boyer sold 4,285 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total transaction of $225,562.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,099,147 shares of company stock valued at $714,407,173. Company insiders own 0.49% of the company’s stock.

BBT traded up $0.67 during midday trading on Friday, reaching $52.00. 5,191,322 shares of the company’s stock were exchanged, compared to its average volume of 4,765,223. The firm has a market capitalization of $39.06 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.79. BB&T Co. has a one year low of $40.68 and a one year high of $53.90. The business has a 50-day simple moving average of $50.27 and a two-hundred day simple moving average of $49.22.

BB&T (NYSE:BBT) last posted its quarterly earnings data on Thursday, July 18th. The insurance provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. As a group, research analysts anticipate that BB&T Co. will post 4.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 14th were issued a dividend of $0.45 per share. This is a positive change from BB&T’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 3.46%. BB&T’s dividend payout ratio (DPR) is presently 44.44%.

BB&T Company Profile

BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.

Featured Story: What is a closed-end mutual fund (CEF)?

Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).

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

Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.