Beacon Financial (NYSE:BBT) Stock Gets Price Target Cut from Royal Bank Of Canada

Beacon Financial (NYSE:BBT) had its target price cut by Royal Bank Of Canada from $33.00 to $31.00 in a report published on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Piper Sandler restated an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $32.50.

Beacon Financial Trading Down 0.1%

Shares of NYSE:BBT opened at $27.18 on Friday. The company has a market cap of $2.28 billion, a P/E ratio of 20.59 and a beta of 0.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. Beacon Financial has a 1 year low of $22.81 and a 1 year high of $32.83. The stock’s fifty day moving average price is $30.49 and its 200-day moving average price is $30.17.

Beacon Financial (NYSE:BBT) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Beacon Financial had a return on equity of 9.15% and a net margin of 8.96%. The company had revenue of $219.19 million for the quarter. Sell-side analysts expect that Beacon Financial will post 3.04 earnings per share for the current year.

Beacon Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s dividend payout ratio (DPR) is 97.73%.

Hedge Funds Weigh In On Beacon Financial

A number of hedge funds and other institutional investors have recently modified their holdings of BBT. Blue Trust Inc. increased its holdings in Beacon Financial by 11.2% in the 1st quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock valued at $97,000 after acquiring an additional 325 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Beacon Financial by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock worth $446,000 after purchasing an additional 354 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Beacon Financial in the 2nd quarter worth $35,000. Rockefeller Capital Management L.P. bought a new position in shares of Beacon Financial during the 4th quarter valued at about $32,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Beacon Financial during the 2nd quarter valued at about $37,000. Institutional investors own 83.07% of the company’s stock.

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.