High Point Bank Trust Co Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : High Point Bank Trust Co reduced its stake in BB&T Corporation by 3.39% during the most recent quarter end. The investment management company now holds a total of 58,764 shares of BB&T Corporation which is valued at $2,105,514 after selling 2,065 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.BB&T Corporation makes up approximately 0.55% of High Point Bank Trust Co’s portfolio.

BB&T Corporation opened for trading at $35.36 and hit $35.9 on the upside on Friday, eventually ending the session at $35.83, with a gain of 1.96% or 0.69 points. The heightened volatility saw the trading volume jump to 63,65,189 shares. Company has a market cap of $27,964 M.

Other Hedge Funds, Including , Benin Management Corp boosted its stake in BBT in the latest quarter, The investment management firm added 5,650 additional shares and now holds a total of 32,250 shares of BB&T Corporation which is valued at $1,155,518. BB&T Corporation makes up approx 0.61% of Benin Management Corp’s portfolio. Patten Patten Inctn sold out all of its stake in BBT during the most recent quarter. The investment firm sold 5,782 shares of BBT which is valued $196,761. Longfellow Investment Management Co sold out all of its stake in BBT during the most recent quarter. The investment firm sold 407,210 shares of BBT which is valued $13,857,356.

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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