Verus Financial Partners Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Verus Financial Partners reduced its stake in BB&T Corporation by 1.29% during the most recent quarter end. The investment management company now holds a total of 7,792 shares of BB&T Corporation which is valued at $285,811 after selling 102 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.BB&T Corporation makes up approximately 0.13% of Verus Financial Partners’s portfolio.

Other Hedge Funds, Including , Eastern Bank boosted its stake in BBT in the latest quarter, The investment management firm added 2,575 additional shares and now holds a total of 62,935 shares of BB&T Corporation which is valued at $2,308,456. BB&T Corporation makes up approx 0.18% of Eastern Bank’s portfolio. Cutler Group Lp sold out all of its stake in BBT during the most recent quarter. The investment firm sold 1,160 shares of BBT which is valued $41,644. Patten Patten Inctn added BBT to its portfolio by purchasing 8,050 company shares during the most recent quarter which is valued at $283,521. BB&T Corporation makes up approx 0.04% of Patten Patten Inctn’s portfolio.

BB&T Corporation closed down -0.09 points or -0.24% at $36.68 with 23,47,412 shares getting traded on Monday. Post opening the session at $36.68, the shares hit an intraday low of $36.6 and an intraday high of $36.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. 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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