Beacon Financial (NYSE:BBT) General Counsel Sells 641 Shares of Stock

Beacon Financial Corporation (NYSE:BBT) General Counsel John Buckley Eagan sold 641 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $30.61, for a total value of $19,621.01. Following the completion of the transaction, the general counsel directly owned 7,053 shares in the company, valued at $215,892.33. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Beacon Financial Price Performance

NYSE BBT traded up $0.74 during trading hours on Monday, reaching $30.81. 1,637,664 shares of the company’s stock were exchanged, compared to its average volume of 861,329. The stock has a market cap of $2.58 billion, a PE ratio of 11.45 and a beta of 0.60. Beacon Financial Corporation has a one year low of $22.81 and a one year high of $32.83. The firm has a fifty day moving average of $29.72 and a 200-day moving average of $30.04. 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 posted its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. The business had revenue of $222.60 million during the quarter. On average, equities research analysts predict that Beacon Financial Corporation will post 3.04 earnings per share for the current fiscal year.

Beacon Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, November 6th. Beacon Financial’s dividend payout ratio is currently 47.96%.

Analysts Set New Price Targets

BBT has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Royal Bank Of Canada increased their target price on Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday. Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Finally, Zacks Research upgraded Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

Institutional Trading of Beacon Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Plimoth Trust Co. LLC increased its stake in shares of Beacon Financial by 38.7% during the third quarter. Plimoth Trust Co. LLC now owns 10,544 shares of the company’s stock valued at $295,000 after purchasing an additional 2,940 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Beacon Financial by 32.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after buying an additional 460 shares during the last quarter. Clark Financial Services Group Inc. BD grew its stake in shares of Beacon Financial by 17.7% in the 3rd quarter. Clark Financial Services Group Inc. BD now owns 17,981 shares of the company’s stock worth $503,000 after buying an additional 2,709 shares during the last quarter. SummerHaven Investment Management LLC bought a new position in Beacon Financial during the 3rd quarter valued at approximately $910,000. Finally, Congress Asset Management Co. increased its position in Beacon Financial by 22.2% during the 3rd quarter. Congress Asset Management Co. now owns 173,531 shares of the company’s stock valued at $4,857,000 after buying an additional 31,504 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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.