Beacon Financial Corporation (NYSE:BBT) Receives Average Recommendation of “Hold” from Analysts

Beacon Financial Corporation (NYSE:BBT) has been given an average rating of “Hold” by the seven research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $32.00.

BBT has been the topic of a number of analyst reports. Raymond James Financial downgraded Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods reduced their target price on Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Piper Sandler upped their price target on shares of Beacon Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Beacon Financial in a research report on Tuesday.

Hedge Funds Weigh In On Beacon Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. purchased a new position in shares of Beacon Financial in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Beacon Financial in the 4th quarter worth about $30,000. TD Private Client Wealth LLC purchased a new stake in shares of Beacon Financial in the 4th quarter worth about $32,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Beacon Financial in the 4th quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Beacon Financial in the 4th quarter valued at about $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Beacon Financial Trading Down 1.4%

NYSE BBT opened at $30.72 on Friday. The stock has a market capitalization of $2.57 billion, a P/E ratio of 25.39 and a beta of 0.55. Beacon Financial has a 52-week low of $22.81 and a 52-week high of $32.83. The firm has a 50-day moving average price of $29.54 and a 200 day moving average price of $29.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.13). Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. The business had revenue of $214.72 million during the quarter. Equities research analysts expect that Beacon Financial will post 3.13 EPS for the current year.

Beacon Financial declared that its board has authorized a stock repurchase plan on Wednesday, April 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Beacon Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.3225 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.2%. Beacon Financial’s dividend payout ratio is currently 106.61%.

Beacon Financial Company Profile

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing. It also markets a range of other services, including deposits, life insurance, property and casualty insurance, health Truist Financial Corp.