The stock of BB&T Corporation (NYSE:BBT) hit a new 52-week high and has $70.92 target or 65.00% above today’s $42.98 share price. The 5 months bullish chart indicates low risk for the $35.24B company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $70.92 price target is reached, the company will be worth $22.91 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.20 million shares traded hands. BB&T Corporation (NYSE:BBT) has risen 26.63% since April 12, 2016 and is uptrending. It has outperformed by 21.64% the S&P500.
BB&T Corporation (NYSE:BBT) Ratings Coverage
Out of 20 analysts covering BB&T Corp (NYSE:BBT), 8 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 40% are positive. $46 is the highest target while $35 is the lowest. The $40.43 average target is -5.93% below today’s ($42.98) stock price. BB&T Corp has been the topic of 34 analyst reports since July 17, 2015 according to StockzIntelligence Inc. On Tuesday, May 10 the stock rating was upgraded by FIG Partners to “Outperform”. The company was initiated on Tuesday, November 24 by Piper Jaffray. The rating was maintained by CLSA on Friday, September 23 with “Outperform”. Robert W. Baird downgraded the shares of BBT in a report on Monday, July 11 to “Neutral” rating. On Wednesday, August 12 the stock rating was maintained by Deutsche Bank with “Hold”. Barclays Capital maintained BB&T Corporation (NYSE:BBT) rating on Wednesday, April 6. Barclays Capital has “Equalweight” rating and $40 price target. The firm earned “Outperform” rating on Wednesday, September 2 by Robert W. Baird. The firm earned “Equal Weight” rating on Friday, October 16 by Barclays Capital. The company was maintained on Friday, January 22 by Barclays Capital. The rating was maintained by Wood with “Market Perform” on Wednesday, October 19.
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.”
Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.21, from 1.18 in 2016Q1. The ratio increased, as 61 funds sold all BB&T Corporation shares owned while 199 reduced positions. 60 funds bought stakes while 301 increased positions. They now own 504.84 million shares or 2.16% more from 494.14 million shares in 2016Q1.
Pine River Ltd Partnership has invested 0.01% of its portfolio in BB&T Corporation (NYSE:BBT). The California-based Dowling & Yahnke Limited Liability Co has invested 0.04% in BB&T Corporation (NYSE:BBT). Eagle Asset Management Inc, a Florida-based fund reported 697,876 shares. Ftb Advsrs reported 2,354 shares or 0.01% of all its holdings. The Sweden-based Livforsakringsbolaget Skandia Omsesidigt has invested 0.13% in BB&T Corporation (NYSE:BBT). Moreover, Louisiana State Employees Retirement Sys has 0.1% invested in BB&T Corporation (NYSE:BBT) for 53,900 shares. State Bank Of Nova Scotia has invested 0% of its portfolio in BB&T Corporation (NYSE:BBT). Peoples Corp, a Pennsylvania-based fund reported 560 shares. Rnc Capital Management Ltd Liability Com has 0.2% invested in the company for 60,525 shares. Amalgamated Natl Bank accumulated 0.08% or 38,181 shares. Exxonmobil Management Tx has invested 0.16% of its portfolio in BB&T Corporation (NYSE:BBT). Manchester Mgmt Ltd Company holds 2,122 shares or 0.01% of its portfolio. Ronald Blue & Ltd Limited Liability Company has invested 0.02% of its portfolio in BB&T Corporation (NYSE:BBT). Wealthfront has 14,495 shares for 0.01% of their US portfolio. Blackrock Fund last reported 0.1% of its portfolio in the stock.
Insider Transactions: Since May 17, 2016, the stock had 0 buys, and 16 selling transactions for $18.68 million net activity. $102,783 worth of BB&T Corporation (NYSE:BBT) shares were sold by FAULKNER JAMES A. Another trade for 7,047 shares valued at $284,418 was sold by Powell Cynthia B. On Monday, May 23 Weaver David Hudson sold $140,200 worth of the stock or 4,000 shares. 29,976 BB&T Corporation (NYSE:BBT) shares with value of $1.10M were sold by DUCK BARBARA F. 21,435 shares with value of $725,088 were sold by WIGGS STEVEN B on Tuesday, May 17. 8,500 BB&T Corporation (NYSE:BBT) shares with value of $302,190 were sold by Yates William Rufus. 20,000 shares with value of $787,398 were sold by QUBEIN NIDO R on Thursday, October 27.
More notable recent BB&T Corporation (NYSE:BBT) news were published by: Seekingalpha.com which released: “BB&T Corporation: Positive Aspects Remain But Valuation Is Not Attractive” on November 14, 2016, also Nasdaq.com with their article: “BB&T Corporation (BBT) Ex-Dividend Date Scheduled for November 08, 2016” published on November 07, 2016, Prnewswire.com published: “BB&T Corporation CFO to speak at BancAnalysts Association of Boston Inc …” on October 25, 2016. More interesting news about BB&T Corporation (NYSE:BBT) were released by: Prnewswire.com and their article: “BB&T Corporation COO to speak at Bank of America Merrill Lynch 2016 Future of …” published on November 09, 2016 as well as Charlotteobserver.com‘s news article titled: “BB&T profit rises 22 percent as acquisitions boost revenues” with publication date: October 19, 2016.
BBT Company Profile
BB&T Corporation (BB&T), incorporated on September 24, 1968, is a financial holding company. The Firm conducts its business primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. The Company’s divisions include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, 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 over 2,140 offices.
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