Hamel Associates buys $4,133,111 stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Hamel Associates scooped up 9,150 additional shares in BB&T Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 111,135 shares of BB&T Corporation which is valued at $4,133,111.BB&T Corporation makes up approximately 2.17% of Hamel Associates’s portfolio.

Other Hedge Funds, Including , Assetmark Inc boosted its stake in BBT in the latest quarter, The investment management firm added 2,991 additional shares and now holds a total of 3,507 shares of BB&T Corporation which is valued at $130,425.Commonwealth Equity Services Inc reduced its stake in BBT by selling 804 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 163,872 shares of BBT which is valued at $6,236,968. BB&T Corporation makes up approx 0.05% of Commonwealth Equity Services Inc’s portfolio.Cadence Capital Management reduced its stake in BBT by selling 46,863 shares or 27.11% in the most recent quarter. The Hedge Fund company now holds 126,020 shares of BBT which is valued at $4,680,383. BB&T Corporation makes up approx 0.34% of Cadence Capital Management’s portfolio.Concannon Wealth Management reduced its stake in BBT by selling 583 shares or 68.11% in the most recent quarter. The Hedge Fund company now holds 273 shares of BBT which is valued at $10,139. BB&T Corporation makes up approx 0.01% of Concannon Wealth Management’s portfolio.Boston Private Wealth reduced its stake in BBT by selling 3,648 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 232,135 shares of BBT which is valued at $8,621,494. BB&T Corporation makes up approx 0.34% of Boston Private Wealth’s portfolio.

BB&T Corporation opened for trading at $37.19 and hit $37.62 on the upside on Monday, eventually ending the session at $37.53, with a gain of 1.41% or 0.52 points. The heightened volatility saw the trading volume jump to 23,39,514 shares. Company has a market cap of $30,568 M.

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 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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