Harvest Management buys $7.2 Million stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Harvest Management scooped up 140,000 additional shares in BB&T Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 218,545 shares of BB&T Corporation which is valued at $7.2 Million.BB&T Corporation makes up approximately 8.97% of Harvest Management’s portfolio.

Other Hedge Funds, Including , Keybank National Associationoh boosted its stake in BBT in the latest quarter, The investment management firm added 1,561 additional shares and now holds a total of 61,485 shares of BB&T Corporation which is valued at $2 Million. BB&T Corporation makes up approx 0.01% of Keybank National Associationoh’s portfolio. Payden Rygel sold out all of its stake in BBT during the most recent quarter. The investment firm sold 500 shares of BBT which is valued $17,010.Gabelli Securities boosted its stake in BBT in the latest quarter, The investment management firm added 448,300 additional shares and now holds a total of 644,582 shares of BB&T Corporation which is valued at $21.9 Million. BB&T Corporation makes up approx 3.11% of Gabelli Securities’s portfolio.Schwab Charles Investment Management Inc boosted its stake in BBT in the latest quarter, The investment management firm added 93,742 additional shares and now holds a total of 2,627,502 shares of BB&T Corporation which is valued at $89.4 Million. BB&T Corporation makes up approx 0.12% of Schwab Charles Investment Management Inc’s portfolio.Lba Wealth Management reduced its stake in BBT by selling 1,400 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 1,400 shares of BBT which is valued at $47,628. BB&T Corporation makes up approx 0.03% of Lba Wealth Management’s portfolio.

BB&T Corporation opened for trading at $33.35 and hit $33.67 on the upside on Monday, eventually ending the session at $33.53, with a gain of 1.24% or 0.41 points. The heightened volatility saw the trading volume jump to 52,92,162 shares. Company has a market cap of $26,233 M.

On the company’s financial health, BB&T Corporation reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jan 21, 2016. Analyst had a consensus of $0.72. The company had revenue of $2557.00 million for the quarter, compared to analysts expectations of $2587.51 million. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on BB&T Corporation. BB&T Corporation was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on May 16, 2016. BB&T Corporation was Downgraded by Raymond James to ” Mkt Perform” on May 9, 2016. BB&T Corporation was Downgraded by Raymond James to ” Outperform” on Apr 7, 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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