Beacon Financial Corporation (NYSE:BBT) Given Consensus Recommendation of “Hold” by Brokerages

Beacon Financial Corporation (NYSE:BBT) has received an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.75.

BBT has been the subject of a number of research reports. Zacks Research cut shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Raymond James Financial lowered Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Royal Bank Of Canada dropped their price target on 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. Hovde Group reaffirmed a “market perform” rating and set a $30.00 price objective (down from $33.00) on shares of Beacon Financial in a research note on Friday, May 1st. Finally, Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th.

Beacon Financial Stock Performance

Shares of Beacon Financial stock opened at $29.05 on Friday. The firm’s fifty day simple moving average is $29.89 and its 200-day simple moving average is $28.56. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 24.01 and a beta of 0.55. Beacon Financial 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 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). Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%.The business had revenue of $214.72 million for the quarter. As a group, equities analysts forecast that Beacon Financial will post 3.13 earnings per share for the current year.

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

Beacon Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.29 annualized dividend and a dividend yield of 4.4%. Beacon Financial’s dividend payout ratio (DPR) is currently 106.61%.

Hedge Funds Weigh In On Beacon Financial

Several institutional investors have recently bought and sold shares of the company. Montag A & Associates Inc. purchased a new position in Beacon Financial during the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased 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 position in shares of Beacon Financial during the fourth quarter worth about $32,000. Rockefeller Capital Management L.P. acquired a new position in shares of Beacon Financial during the fourth quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC purchased a new position in Beacon Financial during the fourth quarter worth about $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.

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.