Beacon Financial Corporation (NYSE:BBT) Receives Consensus Rating of “Hold” from Analysts

Beacon Financial Corporation (NYSE:BBT) has been given an average rating of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.50.

BBT has been the subject of several research analyst reports. Weiss Ratings downgraded Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd.

Beacon Financial Price Performance

Shares of NYSE BBT opened at $28.17 on Thursday. The firm has a market cap of $2.36 billion, a P/E ratio of 21.34 and a beta of 0.60. Beacon Financial has a twelve month low of $22.81 and a twelve month high of $32.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $30.73 and a 200 day moving average of $30.20.

Beacon Financial (NYSE:BBT) last issued its earnings results on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Beacon Financial had a return on equity of 9.15% and a net margin of 8.96%.The business had revenue of $219.19 million for the quarter. As a group, research analysts expect that Beacon Financial will post 3.04 EPS for the current fiscal year.

Beacon Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.3225 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.29 annualized dividend and a yield of 4.6%. Beacon Financial’s dividend payout ratio (DPR) is currently 97.73%.

Institutional Investors Weigh In On Beacon Financial

Hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new position in Beacon Financial during the second quarter valued at $1,106,000. Legal & General Group Plc purchased a new stake in Beacon Financial in the second quarter worth about $5,756,000. Bank of America Corp DE bought a new position in shares of Beacon Financial in the second quarter worth about $32,394,000. The Manufacturers Life Insurance Company bought a new position in shares of Beacon Financial in the second quarter worth about $1,209,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Beacon Financial during the 2nd quarter valued at about $16,478,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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.