Burgundy Asset Management Ltd. buys $315,042,296 stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Burgundy Asset Management Ltd. scooped up 292,798 additional shares in BB&T Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 8,512,356 shares of BB&T Corporation which is valued at $315,042,296.BB&T Corporation makes up approximately 3.02% of Burgundy Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Crawford Investment Counsel Inc reduced its stake in BBT by selling 824 shares or 6.16% in the most recent quarter. The Hedge Fund company now holds 12,563 shares of BBT which is valued at $464,957. BB&T Corporation makes up approx 0.02% of Crawford Investment Counsel Inc’s portfolio.Investors Capital Advisory Services boosted its stake in BBT in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 6,637 shares of BB&T Corporation which is valued at $246,498. BB&T Corporation makes up approx 0.05% of Investors Capital Advisory Services’s portfolio.Eads Heald Investment Counsel reduced its stake in BBT by selling 3,620 shares or 27.45% in the most recent quarter. The Hedge Fund company now holds 9,570 shares of BBT which is valued at $352,846. BB&T Corporation makes up approx 0.24% of Eads Heald Investment Counsel’s portfolio.Calamos Advisors boosted its stake in BBT in the latest quarter, The investment management firm added 37 additional shares and now holds a total of 103,610 shares of BB&T Corporation which is valued at $3,828,390. BB&T Corporation makes up approx 0.03% of Calamos Advisors’s portfolio.

BB&T Corporation opened for trading at $37.98 and hit $38.04 on the upside on Tuesday, eventually ending the session at $37.86, with a gain of 0.19% or 0.07 points. The heightened volatility saw the trading volume jump to 21,64,475 shares. Company has a market cap of $30,837 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 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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