Beacon Financial (NYSE:BBT) Stock: Insider Thomas Hollister Buys 3,450 Shares

Beacon Financial Corporation (NYSE:BBT) Director Thomas Hollister purchased 3,450 shares of the business’s stock in a transaction on Monday, October 26th. The shares were acquired at an average cost of $30.43 per share, for a total transaction of $104,983.50. Following the completion of the transaction, the director directly owned 28,876 shares in the company, valued at approximately $878,696.68. This represents a 13.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Beacon Financial Price Performance

Beacon Financial stock opened at $30.70 on Wednesday. The firm has a 50-day moving average of $29.66 and a 200-day moving average of $29.84. Beacon Financial Corporation has a one year low of $22.81 and a one year high of $32.83. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 11.41 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The firm had revenue of $222.60 million during the quarter. As a group, sell-side analysts expect that Beacon Financial Corporation will post 3.01 earnings per share for the current year.

Beacon Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given 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 4.2%. Beacon Financial’s dividend payout ratio is 47.96%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBT. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 325 shares during the period. 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 valued at $446,000 after purchasing an additional 354 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Beacon Financial by 32.2% during the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after purchasing an additional 460 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Beacon Financial during the second quarter worth about $35,000. Finally, Rockefeller Capital Management L.P. bought a new position in Beacon Financial during the fourth quarter worth about $32,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.