Cullinan Associates Inc buys $8,985,828 stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Cullinan Associates Inc scooped up 1,600 additional shares in BB&T Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 231,355 shares of BB&T Corporation which is valued at $8,985,828.BB&T Corporation makes up approximately 0.77% of Cullinan Associates Inc’s portfolio.

BB&T Corporation opened for trading at $37.72 and hit $38.35 on the upside on Tuesday, eventually ending the session at $38.28, with a gain of 1.78% or 0.67 points. The heightened volatility saw the trading volume jump to 1,02,80,211 shares. Company has a market cap of $31,179 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 (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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