Trade Report: Today, Bank of New York Mellon Corp invests in BB&T Corp. (BBT) Shares

Today, Bank of New York Mellon Corp invests in BB&T Corp. (BBT) Shares

Bank of New York Mellon Corp boosted its position in BB&T Corp. (NYSE:BBT) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 9,025,755 shares of the company’s stock after buying an additional 384,013 shares during the period. Bank of New York Mellon Corp owned 1.11% of BB&T Corp. worth $340,452,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBT. Newman Dignan & Sheerar Inc. increased its position in BB&T Corp. by 21.5% in the second quarter. Newman Dignan & Sheerar Inc. now owns 19,493 shares of the company’s stock worth $694,000 after buying an additional 3,455 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in BB&T Corp. by 11.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 212,481 shares of the company’s stock worth $7,566,000 after buying an additional 22,460 shares during the period. DNB Asset Management AS increased its position in BB&T Corp. by 4.9% in the second quarter. DNB Asset Management AS now owns 68,474 shares of the company’s stock worth $2,438,000 after buying an additional 3,200 shares during the period. British Columbia Investment Management Corp increased its position in BB&T Corp. by 15.3% in the second quarter. British Columbia Investment Management Corp now owns 509,100 shares of the company’s stock worth $18,129,000 after buying an additional 67,492 shares during the period. Finally, Raymond James Trust N.A. increased its position in BB&T Corp. by 4.0% in the second quarter. Raymond James Trust N.A. now owns 153,338 shares of the company’s stock worth $5,461,000 after buying an additional 5,958 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Shares of BB&T Corp. (NYSE:BBT) traded down 0.571% on Monday, hitting $44.395. The stock had a trading volume of 2,651,982 shares. The firm’s 50-day moving average price is $40.28 and its 200 day moving average price is $37.55. BB&T Corp. has a 12 month low of $29.95 and a 12 month high of $44.88. The firm has a market cap of $36.02 billion, a P/E ratio of 16.498 and a beta of 1.02.

BB&T Corp. (NYSE:BBT) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. BB&T Corp. had a net margin of 20.54% and a return on equity of 9.45%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts anticipate that BB&T Corp. will post $2.77 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Tuesday, November 8th. BB&T Corp.’s dividend payout ratio (DPR) is presently 44.44%.

Several research firms recently weighed in on BBT. BMO Capital Markets downgraded BB&T Corp. from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $43.00 to $45.00 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Morgan Stanley downgraded BB&T Corp. from an “equal weight” rating to an “underweight” rating and set a $42.00 price target on the stock. in a research note on Monday, November 14th. They noted that the move was a valuation call. Barclays PLC restated a “hold” rating and issued a $40.00 price target on shares of BB&T Corp. in a research note on Tuesday, October 11th. FBR & Co downgraded BB&T Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $45.00 to $40.00 in a research note on Tuesday, October 11th. Finally, Macquarie downgraded BB&T Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 20th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. BB&T Corp. currently has a consensus rating of “Hold” and an average price target of $39.79.

In related news, Director I. Patricia Henry sold 1,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $38.13, for a total transaction of $38,130.00. Following the completion of the transaction, 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 available at the SEC website. Also, Chairman Kelly S. King sold 162,415 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $38.25, for a total transaction of $6,212,373.75. Following the transaction, the chairman now owns 448,391 shares of the company’s stock, valued at $17,150,955.75. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

About BB&T Corp.

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