Concannon Wealth Management buys $30,670 stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Concannon Wealth Management scooped up 1 additional shares in BB&T Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 856 shares of BB&T Corporation which is valued at $30,670.BB&T Corporation makes up approximately 0.03% of Concannon Wealth Management’s portfolio.

BB&T Corporation closed down -0.01 points or -0.03% at $36.15 with 57,75,393 shares getting traded on Wednesday. Post opening the session at $36.17, the shares hit an intraday low of $35.86 and an intraday high of $36.5 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Tnb Financial reduced its stake in BBT by selling 195 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 12,201 shares of BBT which is valued at $415,200. BB&T Corporation makes up approx 0.12% of Tnb Financial’s portfolio.Alpha Windward boosted its stake in BBT in the latest quarter, The investment management firm added 1,154 additional shares and now holds a total of 17,767 shares of BB&T Corporation which is valued at $604,611. BB&T Corporation makes up approx 0.43% of Alpha Windward’s portfolio.

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 Downgraded by Raymond James to ” Outperform” on Apr 7, 2016. Shares were Reiterated by Barclays on Apr 6, 2016 to “Equal Weight” and Lowered the Price Target to $ 40 from a previous price target of $41 .Deutsche Bank Resumed BB&T Corporation on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $39.

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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