Beacon Financial (NYSE:BBT) Director Eric Rosengren Buys 700 Shares of Stock

Beacon Financial Corporation (NYSE:BBT) Director Eric Rosengren acquired 700 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was bought at an average price of $30.24 per share, with a total value of $21,168.00. Following the acquisition, the director directly owned 8,131 shares of the company’s stock, valued at $245,881.44. The trade was a 9.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Beacon Financial Price Performance

Shares of BBT opened at $30.34 on Thursday. The stock has a market cap of $2.54 billion, a P/E ratio of 11.28 and a beta of 0.60. Beacon Financial Corporation has a 1 year low of $22.81 and a 1 year high of $32.83. The stock’s 50-day moving average price is $29.62 and its two-hundred day moving average price is $29.86. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). The company had revenue of $222.60 million during the quarter. Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. On average, equities analysts predict that Beacon Financial Corporation will post 3.01 earnings per share for the current year.

Beacon Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.29 annualized dividend and a yield of 4.3%. Beacon Financial’s dividend payout ratio (DPR) is presently 47.96%.

Analyst Ratings Changes

Several equities research analysts have commented on BBT shares. Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Royal Bank Of Canada lifted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Finally, Piper Sandler lifted their price target on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.75.

Institutional Investors Weigh In On Beacon Financial

Several large investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in Beacon Financial by 11.2% during the 1st quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock worth $97,000 after buying an additional 325 shares during the period. PNC Financial Services Group Inc. lifted its stake in Beacon Financial by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock valued at $446,000 after buying an additional 354 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Beacon Financial by 32.2% in the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock valued at $53,000 after buying an additional 460 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Beacon Financial in the second quarter valued at approximately $35,000. Finally, Rockefeller Capital Management L.P. bought a new position in Beacon Financial in the fourth quarter valued at approximately $32,000. 83.07% of the stock is currently owned by institutional investors.

About Beacon Financial

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.