BB&T Corp (NYSE:BBT) Stock Upgrade
It will be interesting to watch today’s trading of shares of BB&T Corp (NYSE:BBT) as Raymond James upgraded the stock from a Outperform to a respectable Strong Buy.
From a total of 31 analysts covering BB&T Corp (NYSE:BBT) stock, 18 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $47 while the lowest target price is $37. The mean of all analyst targets is $41.8 with a 8.99% above today’s ($38.94) stock price. BB&T Corp was the topic of 17 analyst reports since July 17, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray initiated shares on November 24 with “Neutral” rating. Deutsche Bank maintained shares with “Hold” rating and $44 target share price in a report from an August 12. Hilliard Lyons downgraded BBT stock in a recent report from October 16 to “Neutral” rating. Finally, SunTrust maintained the stock with “Neutral” rating in a report issued on an August 27.
The stock decreased 0.01% or $0.01 on December 4, striking $38.94. Approximately shares of stock traded hands. BB&T Corporation (NYSE:BBT) has declined 0.36% since May 4, 2015 and is downtrending. It has outperformed by 0.72% the S&P500.
The overall sentiment of institutions has increased to 1.55 in Q2 2015. Its up 0.34, from 1.21 in 2015Q2. The ratio increased, as 48 institutions have sold all the shares of BB&T Corporation that they owned while 211 funds have taken shares off the table. 78 funds have purchased shares for the first time while 323 added to their positions. These institutions now hold 490.44 million shares or 7.86% more than the 454.72 million shares they owned in 2015Q2.
The Fund Lakeshore Capital Llc currently is holding shares equating to 11.79% of its total portfolio in BB&T Corporation representing a total of 150,857 shares. Another fund,Montgomery Investment Management Inc, is holding a total of 542,847 shares equating to 11.4% of their holdings. Additionally, Longview Partners (Guernsey) Ltd has a 14.80 million share stake in BB&T Corporation which represents 3.72% of their total portfolio. The Fund, Bb&T Corp, based out of North Carolina, has also built up a stake in the stock, which represents a total of 3.4% of their total portfolio. Finally Kr Capital Advisors Inc, a fund which is based in the state of New York reported a total holdings of 133,660 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 10, 2015, shareholders of BB&T Corporation have witnessed 0 insider buys, and a total of 4 insider sales equating to a net activity of approximately $3.30 million . Bible Daryl N. sold 13,870 shares worth approximately $511,055. Boyer K. David Jr. sold 750 shares worth approximately $27,863. Starnes Clarke R Iii sold 68,088 shares worth approximately $2.71M. Brown Ricky sold 26,110 shares worth approximately $1.03M. The company insider Henson Christopher L sold 39,827 shares worth $1.58 million.
BB&T Corporation is a financial holding company. The company has a market cap of $30.39 billion. The Firm conducts its business primarily through its bank subsidiary, Branch Bank, and other nonbank subsidiaries. It has 14.56 P/E ratio. BB&T’s activities are divided into six reportable business divisions: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services and Financial Services, and Other, Treasury and Corporate.
According to Zacks Investment Research, “BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. BB&T conducts its operations in North Carolina, South Carolina, Virginia, Maryland, Georgia, West Virginia, Kentucky and the metropolitan Washington, D.C. area.” Get a free copy of the Zacks research report on BB&T Corporation (BBT).