Beacon Financial (NYSE:BBT) Stock Price Target Cut by Royal Bank Of Canada

Beacon Financial (NYSE:BBT) had its price target cut by Royal Bank Of Canada from $33.00 to $31.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 14.16% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Weiss Ratings cut shares of Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Finally, Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.50.

Beacon Financial Trading Down 1.2%

Beacon Financial stock traded down $0.32 during trading hours on Friday, reaching $27.16. 210,246 shares of the company’s stock traded hands, compared to its average volume of 844,852. Beacon Financial has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The firm’s 50 day moving average is $30.58 and its 200-day moving average is $30.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 20.59 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The business had revenue of $219.19 million for the quarter. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. On average, analysts predict that Beacon Financial will post 3.04 earnings per share for the current year.

Institutional Investors Weigh In On Beacon Financial

Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Beacon Financial in the second quarter valued at approximately $35,000. Rockefeller Capital Management L.P. bought a new position in Beacon Financial in the fourth quarter valued at $32,000. Public Employees Retirement System of Ohio acquired a new stake in Beacon Financial in the 2nd quarter valued at $37,000. Trust Co. of Vermont acquired a new stake in shares of Beacon Financial in the second quarter valued at about $41,000. Finally, State of Wyoming bought a new stake in Beacon Financial during the second quarter worth about $64,000. Institutional investors own 83.07% of the company’s stock.

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.