Verus Financial Partners Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Verus Financial Partners reduced its stake in BB&T Corporation by 8.64% during the most recent quarter end. The investment management company now holds a total of 7,119 shares of BB&T Corporation which is valued at $269,597 after selling 673 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.BB&T Corporation makes up approximately 0.12% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in BBT by selling 4,510 shares or 2.12% in the most recent quarter. The Hedge Fund company now holds 207,971 shares of BBT which is valued at $8,087,992. BB&T Corporation makes up approx 0.17% of Exxonmobil Investment Management Inc Tx’s portfolio.Capital Investment Services Of America reduced its stake in BBT by selling 2,100 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 297,191 shares of BBT which is valued at $11,557,758. BB&T Corporation makes up approx 2.22% of Capital Investment Services Of America’s portfolio.Cullinan Associates Inc boosted its stake in BBT in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 231,355 shares of BB&T Corporation which is valued at $8,985,828. BB&T Corporation makes up approx 0.77% of Cullinan Associates Inc’s portfolio.

BB&T Corporation closed down -0.44 points or -1.12% at $38.75 with 74,85,218 shares getting traded on Tuesday. Post opening the session at $39.06, the shares hit an intraday low of $38.66 and an intraday high of $39.42 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 FBR & Co. on Oct 11, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 40 from a previous price target of $45 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

BB&T Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on BB&T Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.