UBS Group AG Makes New $18.82 Million Investment in Beacon Financial Corporation $BBT

UBS Group AG acquired a new stake in shares of Beacon Financial Corporation (NYSE:BBT) during the fourth quarter, Holdings Channel reports. The firm acquired 713,489 shares of the company’s stock, valued at approximately $18,815,000.

Several other large investors also recently modified their holdings of the stock. Strategic Value Bank Partners LLC acquired a new stake in Beacon Financial in the 4th quarter valued at $16,448,000. Grace & White Inc. NY bought a new position in shares of Beacon Financial during the fourth quarter valued at $4,914,000. Hennessy Advisors Inc. acquired a new stake in shares of Beacon Financial in the 4th quarter valued at $1,714,000. State of Alaska Department of Revenue bought a new stake in shares of Beacon Financial in the 4th quarter worth about $1,179,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Beacon Financial during the 4th quarter worth about $253,245,000. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBT shares. Royal Bank Of Canada reduced their price target on shares of Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, May 1st. Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th. Hovde Group reaffirmed a “market perform” rating and set a $30.00 price target (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Keefe, Bruyette & Woods cut their price objective on Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Zacks Research lowered Beacon Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.75.

Insider Transactions at Beacon Financial

In other Beacon Financial news, insider Michael W. Mccurdy sold 17,333 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $31.04, for a total transaction of $538,016.32. Following the completion of the sale, the insider directly owned 25,555 shares of the company’s stock, valued at approximately $793,227.20. The trade was a 40.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.09% of the stock is currently owned by corporate insiders.

Beacon Financial Price Performance

Shares of BBT stock opened at $28.64 on Tuesday. Beacon Financial Corporation has a 1 year low of $22.81 and a 1 year high of $32.83. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $30.11 and its 200-day moving average is $28.19. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 23.67 and a beta of 0.55.

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 analysts’ consensus estimates of $0.83 by ($0.13). The company had revenue of $214.72 million during the quarter. Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. Sell-side analysts forecast that Beacon Financial Corporation will post 3.13 EPS for the current fiscal year.

Beacon Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. Beacon Financial’s dividend payout ratio is 106.61%.

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

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.