As Bb&T Corp. (BBT) Valuation Declined, Burgundy Asset Management LTD Upped Stake by $5.74 Million

September 30, 2018 - By Matthew Richard

BB&T Corporation (NYSE:BBT) LogoInvestors sentiment decreased to 1.1 in Q2 2018. Its down 0.02, from 1.12 in 2018Q1. It worsened, as 49 investors sold BBT shares while 285 reduced holdings. 84 funds opened positions while 282 raised stakes. 488.59 million shares or 1.52% more from 481.29 million shares in 2018Q1 were reported. Charter Tru owns 8,212 shares for 0.05% of their portfolio. Rampart Investment Limited Liability Corporation has 27,614 shares. 173,603 were reported by Carroll Finance Associates Inc. Boys Arnold reported 0.24% in BB&T Corporation (NYSE:BBT). Campbell Newman Asset Management accumulated 274,321 shares or 2.14% of the stock. First Eagle Invest Mgmt Limited Liability Co has 2.08% invested in BB&T Corporation (NYSE:BBT). First Midwest Comml Bank Trust Division invested in 0.05% or 7,468 shares. The Wisconsin-based Convergence Partners Ltd Liability Com has invested 0.3% in BB&T Corporation (NYSE:BBT). Private Na invested in 0.1% or 8,729 shares. 295,744 are held by State Of Tennessee Treasury Department. Dynamic Advisor Solutions Ltd Liability Company holds 0.12% or 10,201 shares. The Missouri-based Buckingham Asset Ltd Liability Corp has invested 0.24% in BB&T Corporation (NYSE:BBT). Moreover, Cypress Cap Mngmt (Wy) has 0.02% invested in BB&T Corporation (NYSE:BBT). Dana Invest Advisors has invested 0.01% in BB&T Corporation (NYSE:BBT). Blue Chip Partners Inc invested 0.15% in BB&T Corporation (NYSE:BBT).

Since April 25, 2018, it had 0 insider purchases, and 9 insider sales for $16.07 million activity. The insider DUCK BARBARA F sold $3.66 million. KING KELLY S sold $4.35 million worth of BB&T Corporation (NYSE:BBT) on Wednesday, April 25. Standridge Brantley J also sold $167,146 worth of BB&T Corporation (NYSE:BBT) on Thursday, April 26. $306,847 worth of BB&T Corporation (NYSE:BBT) shares were sold by Bradley W Bennett. Boyer K. David Jr. had sold 2,500 shares worth $130,852 on Friday, June 15. The insider Powell Cynthia B sold 2,817 shares worth $151,504.

Burgundy Asset Management Ltd increased its stake in Bb&T Corp. (BBT) by 1.39% based on its latest 2018Q2 regulatory filing with the SEC. Burgundy Asset Management Ltd bought 114,817 shares as the company’s stock declined 5.80% while stock markets rallied. The institutional investor held 8.40M shares of the major banks company at the end of 2018Q2, valued at $423.76M, up from 8.29 million at the end of the previous reported quarter. Burgundy Asset Management Ltd who had been investing in Bb&T Corp. for a number of months, seems to be bullish on the $37.59B market cap company. The stock decreased 0.74% or $0.36 during the last trading session, reaching $48.54. About 3.31M shares traded or 7.95% up from the average. BB&T Corporation (NYSE:BBT) has risen 13.22% since September 30, 2017 and is uptrending. It has underperformed by 2.40% the S&P500.

Burgundy Asset Management Ltd, which manages about $19.85B and $10.33 billion US Long portfolio, decreased its stake in Northern Trust Corp. (NASDAQ:NTRS) by 31,369 shares to 2.29 million shares, valued at $235.75 million in 2018Q2, according to the filing. It also reduced its holding in Arthur J. Gallagher & Co. (NYSE:AJG) by 77,724 shares in the quarter, leaving it with 1.41M shares, and cut its stake in Royal Bank Of Canada (NYSE:RY).

More news for BB&T Corporation (NYSE:BBT) were recently published by: Seekingalpha.com, which released: “BB&T invests $5M in fintech company Enigma” on September 18, 2018. Seekingalpha.com‘s article titled: “Playing M&A Bingo With BB&T” and published on September 19, 2018 is yet another important article.

BB&T Corporation (NYSE:BBT) Ratings Coverage

Among 12 analysts covering BB&T Corp (NYSE:BBT), 6 have Buy rating, 0 Sell and 6 Hold. Therefore 50% are positive. BB&T Corp had 13 analyst reports since April 4, 2018 according to SRatingsIntel. The firm has “Hold” rating given on Thursday, April 19 by Jefferies. Keefe Bruyette & Woods maintained it with “Hold” rating and $5600 target in Wednesday, April 4 report. The company was maintained on Friday, April 20 by Morgan Stanley. The rating was maintained by BMO Capital Markets on Thursday, April 19 with “Buy”. On Wednesday, April 11 the stock rating was upgraded by Edward Jones to “Buy”. The rating was upgraded by Hilliard Lyons on Monday, April 23 to “Buy”. The firm earned “Outperform” rating on Friday, July 20 by BMO Capital Markets. The rating was maintained by FBR Capital with “Buy” on Friday, July 20. SunTrust maintained the shares of BBT in report on Thursday, April 19 with “Buy” rating. The stock of BB&T Corporation (NYSE:BBT) earned “Hold” rating by Sandler O’Neill on Thursday, April 19.

BB&T Corporation (NYSE:BBT) Institutional Positions Chart

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