Beacon Financial Corporation (NYSE:BBT) Receives Consensus Recommendation of “Hold” from Brokerages

Beacon Financial Corporation (NYSE:BBT) has been given an average rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.00.

Several equities analysts have recently weighed in on the stock. Hovde Group reaffirmed a “market perform” rating and set a $30.00 target price (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. 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. Zacks Research cut shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Piper Sandler upped their price objective on shares of Beacon Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, 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 note on Friday, May 1st.

Hedge Funds Weigh In On Beacon Financial

A number of large investors have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. acquired a new stake in shares of Beacon Financial in the fourth quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Beacon Financial in the fourth quarter valued at about $30,000. TD Private Client Wealth LLC acquired a new stake in shares of Beacon Financial in the fourth quarter valued at about $32,000. Rockefeller Capital Management L.P. purchased a new position in shares of Beacon Financial in the fourth quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Beacon Financial in the fourth quarter worth about $34,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Beacon Financial Stock Down 1.3%

Shares of BBT opened at $30.93 on Tuesday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 25.56 and a beta of 0.56. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The stock’s 50-day moving average price is $29.64 and its 200-day moving average price is $29.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.13). Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. The company had revenue of $214.72 million during the quarter. On average, sell-side analysts predict that Beacon Financial will post 3.13 EPS for the current year.

Beacon Financial declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Beacon Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, May 15th. This represents a $1.29 dividend on an annualized basis and a yield of 4.2%. Beacon Financial’s dividend payout ratio is currently 106.61%.

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.