Trade Report: Today: Huntington National Bank Reduces stake in BB&T Corp. (BBT)

Today: Huntington National Bank Reduces stake in BB&T Corp. (BBT)

Huntington National Bank reduced its position in shares of BB&T Corp. (NYSE:BBT) by 20.7% during the second quarter, Holdings Channel reports. The institutional investor owned 40,147 shares of the company’s stock after selling 10,448 shares during the period. Huntington National Bank’s holdings in BB&T Corp. were worth $1,430,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC boosted its stake in BB&T Corp. by 13.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,989 shares of the company’s stock worth $106,000 after buying an additional 344 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in BB&T Corp. during the second quarter worth approximately $125,000. Hartford Financial Management Inc. boosted its stake in BB&T Corp. by 13.6% in the second quarter. Hartford Financial Management Inc. now owns 4,773 shares of the company’s stock worth $169,000 after buying an additional 573 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in BB&T Corp. by 32.8% in the second quarter. Orrstown Financial Services Inc. now owns 4,873 shares of the company’s stock worth $174,000 after buying an additional 1,204 shares in the last quarter. Finally, Heritage Investors Management Corp purchased a new stake in BB&T Corp. during the second quarter worth approximately $205,000. Institutional investors and hedge funds own 63.04% of the company’s stock.

Shares of BB&T Corp. (NYSE:BBT) traded up 0.05% during midday trading on Friday, reaching $37.89. 7,965,854 shares of the company’s stock traded hands. BB&T Corp. has a 12 month low of $29.95 and a 12 month high of $39.47. The firm has a market cap of $30.86 billion, a PE ratio of 14.62 and a beta of 1.03. The stock has a 50-day moving average price of $38.12 and a 200 day moving average price of $36.21.

BB&T Corp. (NYSE:BBT) last posted its earnings results on Thursday, July 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The company earned $2.79 billion during the quarter, compared to the consensus estimate of $2.73 billion. BB&T Corp. had a net margin of 20.11% and a return on equity of 9.12%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts predict that BB&T Corp. will post $2.76 earnings per share for the current year.

A number of analysts recently commented on BBT shares. Credit Suisse Group AG restated a “buy” rating on shares of BB&T Corp. in a research report on Tuesday, July 12th. Citigroup Inc. restated a “buy” rating on shares of BB&T Corp. in a research report on Tuesday, July 12th. Vetr cut shares of BB&T Corp. from a “strong-buy” rating to a “buy” rating and set a $38.50 price objective for the company. in a research report on Monday, July 11th. Deutsche Bank AG restated a “buy” rating on shares of BB&T Corp. in a research report on Sunday, June 26th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of BB&T Corp. in a research report on Saturday, July 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.41.

In other news, Chairman Kelly S. King sold 46,216 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $36.76, for a total transaction of $1,698,900.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director I. Patricia Henry sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $38.13, for a total transaction of $38,130.00. Following the sale, the director now directly owns 8,090 shares of the company’s stock, valued at $308,471.70. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

BB&T Corp. Company Profile

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