Alesco Advisors Exits Position in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Alesco Advisors has sold out all of its stake in BB&T Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 6,951 shares of BB&T Corporation which is valued at $257,257.

Other Hedge Funds, Including , Jefferies Group reduced its stake in BBT by selling 98,988 shares or 96.56% in the most recent quarter. The Hedge Fund company now holds 3,523 shares of BBT which is valued at $130,386.Capital Investment Counsel Inc reduced its stake in BBT by selling 1,283 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 52,151 shares of BBT which is valued at $1,930,109. BB&T Corporation makes up approx 0.96% of Capital Investment Counsel Inc’s portfolio.Private Advisor Group boosted its stake in BBT in the latest quarter, The investment management firm added 11,276 additional shares and now holds a total of 29,905 shares of BB&T Corporation which is valued at $1,136,390. BB&T Corporation makes up approx 0.04% of Private Advisor Group’s portfolio.

BB&T Corporation closed down -0.18 points or -0.47% at $38.32 with 38,89,888 shares getting traded on Thursday. Post opening the session at $38.6, the shares hit an intraday low of $37.97 and an intraday high of $38.65 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, BB&T Corporation reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $2787.00 million for the quarter, compared to analysts expectations of $2748.91 million. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on BB&T Corporation. Shares were Downgraded by Robert W. Baird on Jul 11, 2016 to ” Neutral” and Lowered the Price Target to $ 37 from a previous price target of $40 .BB&T Corporation was Downgraded by Sandler O’Neill to ” Hold” on Jun 29, 2016.

BB&T Corporation (BB&T) is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary Branch Bank and other nonbank subsidiaries. BB&T’s operations are divided into six reportable business segments: Community Banking Residential Mortgage Banking Dealer Financial Services Specialized Lending Insurance Services and Financial Services and Other Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets including small and mid-size businesses public agencies local governments and individuals through 1839 offices as of December 31 2014. BB&T’s subsidiaries offer a range of retail and commercial services to retail and commercial clients.

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