Weiss Asset Management Lp adds BB&T Corporation (BBT) to its portfolio

BB&T Corporation (BBT) : Weiss Asset Management Lp added new position in BB&T Corporation during the most recent quarter end. The investment management firm now holds 6,594,152 shares of BB&T Corporation which is valued at $218.4 Million , the company said in a statement filed on May 13, 2016 with the SEC.BB&T Corporation makes up approximately 42.76% of Weiss Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Pinebridge Investments reduced its stake in BBT by selling 788 shares or 4.18% in the most recent quarter. The Hedge Fund company now holds 18,043 shares of BBT which is valued at $597,584. BB&T Corporation makes up approx 0.03% of Pinebridge Investments’s portfolio.Raymond James Associates boosted its stake in BBT in the latest quarter, The investment management firm added 830,796 additional shares and now holds a total of 1,811,623 shares of BB&T Corporation which is valued at $60 Million. BB&T Corporation makes up approx 0.20% of Raymond James Associates’s portfolio.First Allied Advisory Services reduced its stake in BBT by selling 57,665 shares or 64.11% in the most recent quarter. The Hedge Fund company now holds 32,280 shares of BBT which is valued at $1.1 Million. BB&T Corporation makes up approx 0.06% of First Allied Advisory Services’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in BBT by selling 34,120 shares or 3.07% in the most recent quarter. The Hedge Fund company now holds 1,078,942 shares of BBT which is valued at $36.7 Million. BB&T Corporation makes up approx 0.14% of State Board Of Administration Of Florida Retirement System’s portfolio.

BB&T Corporation opened for trading at $35.82 and hit $36.55 on the upside on Wednesday, eventually ending the session at $36.37, with a gain of 2.34% or 0.83 points. The heightened volatility saw the trading volume jump to 57,19,077 shares. Company has a market cap of $28,455 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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