Parthenon Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Parthenon reduced its stake in BB&T Corporation by 1.38% during the most recent quarter end. The investment management company now holds a total of 12,048 shares of BB&T Corporation which is valued at $445,174 after selling 168 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.BB&T Corporation makes up approximately 0.11% of Parthenon’s portfolio.

Other Hedge Funds, Including , Wealthtrust Axiom boosted its stake in BBT in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 6,756 shares of BB&T Corporation which is valued at $249,634. BB&T Corporation makes up approx 0.09% of Wealthtrust Axiom’s portfolio.Hartford Investment Management Co boosted its stake in BBT in the latest quarter, The investment management firm added 4,575 additional shares and now holds a total of 197,452 shares of BB&T Corporation which is valued at $7,282,030. BB&T Corporation makes up approx 0.15% of Hartford Investment Management Co’s portfolio.Capital Investment Services Of America reduced its stake in BBT by selling 3,030 shares or 1.0% in the most recent quarter. The Hedge Fund company now holds 299,291 shares of BBT which is valued at $10,541,029. BB&T Corporation makes up approx 1.98% of Capital Investment Services Of America’s portfolio.Toth Financial Advisory Corp boosted its stake in BBT in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 22,166 shares of BB&T Corporation which is valued at $781,795. BB&T Corporation makes up approx 0.24% of Toth Financial Advisory Corp’s portfolio.

BB&T Corporation closed down -0.24 points or -0.65% at $36.87 with 36,14,184 shares getting traded on Friday. Post opening the session at $36.96, the shares hit an intraday low of $36.82 and an intraday high of $37.13 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Investors should note that on Jul 26, 2016, BB&T Corporation announced a cash dividend of $0.3000. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Sep 1, 2016.

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 was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on May 16, 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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