Fox Run Management L.L.C. Buys Shares of 53,642 Beacon Financial Corporation $BBT

Fox Run Management L.L.C. bought a new stake in Beacon Financial Corporation (NYSE:BBT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 53,642 shares of the company’s stock, valued at approximately $1,415,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in Beacon Financial in the fourth quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Beacon Financial in the fourth quarter valued at about $30,000. TD Private Client Wealth LLC purchased a new position in Beacon Financial in the fourth quarter valued at about $32,000. EverSource Wealth Advisors LLC purchased a new position in Beacon Financial in the fourth quarter valued at about $34,000. Finally, Trust Co. of Vermont purchased a new position in Beacon Financial in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Beacon Financial Price Performance

Shares of NYSE BBT opened at $29.15 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $2.44 billion, a PE ratio of 24.09 and a beta of 0.56. The business has a 50-day simple moving average of $29.84 and a two-hundred day simple moving average of $28.72. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.83.

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

Beacon Financial announced that its board has approved a share buyback program on Wednesday, April 29th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Beacon Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.4%. Beacon Financial’s payout ratio is 106.61%.

Wall Street Analyst Weigh In

BBT has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on Beacon Financial from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada cut their target price on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, May 1st. Zacks Research downgraded Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Raymond James Financial downgraded Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Finally, Hovde Group reissued a “market perform” rating and issued a $30.00 price target (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Beacon Financial currently has an average rating of “Hold” and an average price target of $31.75.

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.