Matrix Asset Advisors Incny Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Matrix Asset Advisors Incny reduced its stake in BB&T Corporation by 2.43% during the most recent quarter end. The investment management company now holds a total of 297,783 shares of BB&T Corporation which is valued at $11,059,661 after selling 7,414 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.BB&T Corporation makes up approximately 2.06% of Matrix Asset Advisors Incny’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities sold out all of its stake in BBT during the most recent quarter. The investment firm sold 91,374 shares of BBT which is valued $3,393,630.California State Teachers Retirement System reduced its stake in BBT by selling 237,423 shares or 11.92% in the most recent quarter. The Hedge Fund company now holds 1,753,938 shares of BBT which is valued at $65,141,257. BB&T Corporation makes up approx 0.14% of California State Teachers Retirement System’s portfolio.Checchi Capital Advisers reduced its stake in BBT by selling 385 shares or 5.98% in the most recent quarter. The Hedge Fund company now holds 6,049 shares of BBT which is valued at $223,087. BB&T Corporation makes up approx 0.05% of Checchi Capital Advisers’s portfolio. Quantres Asset Management Ltd sold out all of its stake in BBT during the most recent quarter. The investment firm sold 14,300 shares of BBT which is valued $527,384.

BB&T Corporation closed down -0.06 points or -0.16% at $38 with 30,09,801 shares getting traded on Monday. Post opening the session at $38.1, the shares hit an intraday low of $37.92 and an intraday high of $38.32 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 $0.71 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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