Glassman Wealth Services Lowers stake in BB&T Corporation (BBT)

BB&T Corporation (BBT) : Glassman Wealth Services reduced its stake in BB&T Corporation by 5.8% during the most recent quarter end. The investment management company now holds a total of 4,464 shares of BB&T Corporation which is valued at $191,282 after selling 275 shares in BB&T Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.BB&T Corporation makes up approximately 0.16% of Glassman Wealth Services’s portfolio.

Other Hedge Funds, Including , Northwestern Mutual Wealth Management Co boosted its stake in BBT in the latest quarter, The investment management firm added 17,087 additional shares and now holds a total of 32,827 shares of BB&T Corporation which is valued at $1,406,637. BB&T Corporation makes up approx 0.02% of Northwestern Mutual Wealth Management Co’s portfolio.Blue Chip Partners reduced its stake in BBT by selling 507 shares or 3.05% in the most recent quarter. The Hedge Fund company now holds 16,135 shares of BBT which is valued at $617,164. BB&T Corporation makes up approx 0.28% of Blue Chip Partners’s portfolio.Bank Of The Ozarks boosted its stake in BBT in the latest quarter, The investment management firm added 1,010 additional shares and now holds a total of 49,373 shares of BB&T Corporation which is valued at $1,906,785. BB&T Corporation makes up approx 0.74% of Bank Of The Ozarks’s portfolio. Morgan Dempsey Capital Management sold out all of its stake in BBT during the most recent quarter. The investment firm sold 35 shares of BBT which is valued $1,370.Kanawha Capital Management reduced its stake in BBT by selling 2,057 shares or 1.01% in the most recent quarter. The Hedge Fund company now holds 201,787 shares of BBT which is valued at $7,881,800. BB&T Corporation makes up approx 1.35% of Kanawha Capital Management’s portfolio.

BB&T Corporation opened for trading at $44 and hit $44.55 on the upside on Monday, eventually ending the session at $44.49, with a gain of 1.09% or 0.48 points. The heightened volatility saw the trading volume jump to 75,78,132 shares. Company has a market cap of $36,100 M.

On the company’s financial health, BB&T Corporation reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $0.71. The company had revenue of $2814.00 million for the quarter, compared to analysts expectations of $2793.10 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on BB&T Corporation. BB&T Corporation was Downgraded by Morgan Stanley to ” Underweight” on Nov 14, 2016. BB&T Corporation was Downgraded by Macquarie to ” Underperform” on Oct 20, 2016. Shares were Downgraded by FBR & Co. on Oct 11, 2016 to ” Mkt Perform” and Lowered the Price Target to $ 40 from a previous price target of $45 .

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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