WINTON GROUP Ltd Takes Position in Beacon Financial Corporation $BBT

WINTON GROUP Ltd purchased a new position in shares of Beacon Financial Corporation (NYSE:BBT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 44,112 shares of the company’s stock, valued at approximately $1,163,000. WINTON GROUP Ltd owned 0.05% of Beacon Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BBT. Vanguard Group Inc. acquired a new position in shares of Beacon Financial during the fourth quarter worth about $253,245,000. Geode Capital Management LLC acquired a new position in shares of Beacon Financial during the fourth quarter worth about $52,315,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Beacon Financial during the fourth quarter worth about $35,274,000. Goldman Sachs Group Inc. acquired a new position in shares of Beacon Financial during the fourth quarter worth about $33,629,000. Finally, Systematic Financial Management LP acquired a new position in shares of Beacon Financial during the fourth quarter worth about $30,078,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Beacon Financial Stock Up 0.7%

BBT stock opened at $29.34 on Wednesday. The company’s 50 day simple moving average is $29.83 and its 200-day simple moving average is $28.75. The firm has a market capitalization of $2.46 billion, a PE ratio of 24.25 and a beta of 0.56. Beacon Financial Corporation has a 12 month low of $22.81 and a 12 month high of $32.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01.

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

Beacon Financial Announces Dividend

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

Beacon Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada lowered their target price 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. Piper Sandler lowered their target price on shares of Beacon Financial from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. Keefe, Bruyette & Woods lowered their target price on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Raymond James Financial lowered shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 1st. Three investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.