Trading Report: Today, Smith Salley & Associates cuts its investment of stake in BB&T Corp. (BBT)

Today, Smith Salley & Associates cuts its investment of stake in BB&T Corp. (BBT)

Smith Salley & Associates decreased its position in BB&T Corp. (NYSE:BBT) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,802 shares of the company’s stock after selling 6,925 shares during the period. Smith Salley & Associates’ holdings in BB&T Corp. were worth $1,738,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its position in BB&T Corp. by 5.2% in the second quarter. Retirement Systems of Alabama now owns 418,487 shares of the company’s stock worth $14,902,000 after buying an additional 20,593 shares in the last quarter. Meeder Asset Management Inc. increased its position in BB&T Corp. by 356.8% in the second quarter. Meeder Asset Management Inc. now owns 19,039 shares of the company’s stock worth $677,000 after buying an additional 14,871 shares in the last quarter. Argyle Capital Management Inc. increased its position in BB&T Corp. by 179.2% in the second quarter. Argyle Capital Management Inc. now owns 53,600 shares of the company’s stock worth $1,909,000 after buying an additional 34,400 shares in the last quarter. Wellington Management Group LLP increased its position in BB&T Corp. by 3.6% in the first quarter. Wellington Management Group LLP now owns 2,327,987 shares of the company’s stock worth $77,452,000 after buying an additional 81,250 shares in the last quarter. Finally, Sabal Trust CO increased its position in BB&T Corp. by 4.3% in the second quarter. Sabal Trust CO now owns 591,956 shares of the company’s stock worth $21,080,000 after buying an additional 24,467 shares in the last quarter. Hedge funds and other institutional investors own 63.03% of the company’s stock.

Shares of BB&T Corp. (NYSE:BBT) traded up 0.468% during midday trading on Tuesday, hitting $37.605. The stock had a trading volume of 1,514,473 shares. The firm has a market cap of $30.63 billion, a price-to-earnings ratio of 14.514 and a beta of 1.03. The company’s 50-day moving average price is $38.10 and its 200-day moving average price is $36.28. BB&T Corp. has a 12-month low of $29.95 and a 12-month high of $39.47.

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

BBT has been the topic of a number of research reports. Credit Agricole SA raised their price target on BB&T Corp. from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Barclays PLC reaffirmed an “equal weight” rating and set a $40.00 price objective on shares of BB&T Corp. in a research report on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $42.00 price objective on shares of BB&T Corp. in a research report on Wednesday, September 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of BB&T Corp. in a research report on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of BB&T Corp. in a research report on Wednesday, October 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.41.

In other BB&T Corp. news, Director I. Patricia Henry sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $38.13, for a total value of $38,130.00. Following the completion of the sale, the director now directly owns 8,090 shares in the company, valued at $308,471.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barbara F. Duck sold 29,976 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $36.79, for a total value of $1,102,817.04. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

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