Callan Family Office LLC Makes New $566,000 Investment in Beacon Financial Corporation $BBT

Callan Family Office LLC bought a new stake in Beacon Financial Corporation (NYSE:BBT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,589 shares of the company’s stock, valued at approximately $566,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Montag A & Associates Inc. acquired a new stake in shares of Beacon Financial in the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Beacon Financial in the 4th quarter valued at approximately $30,000. TD Private Client Wealth LLC acquired a new position in Beacon Financial during the fourth quarter worth $32,000. Rockefeller Capital Management L.P. acquired a new position in Beacon Financial during the fourth quarter worth $32,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Beacon Financial during the fourth quarter worth $34,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Hovde Group reissued a “market perform” rating and issued a $30.00 target price (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Royal Bank Of Canada cut their price target on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, May 1st. Keefe, Bruyette & Woods lowered their price objective 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Beacon Financial in a research note on Tuesday, July 14th. Finally, Raymond James Financial cut 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 and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $32.50.

Beacon Financial Stock Performance

NYSE BBT opened at $31.37 on Wednesday. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 23.77 and a beta of 0.55. The business has a fifty day moving average of $30.81 and a 200-day moving average of $30.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

Beacon Financial (NYSE:BBT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 earnings per share (EPS) 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 return on equity of 9.15% and a net margin of 8.96%. As a group, analysts predict that Beacon Financial Corporation will post 3.04 earnings per share for the current fiscal year.

Beacon Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.3225 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.29 annualized dividend and a yield of 4.1%. Beacon Financial’s payout ratio is presently 97.73%.

Beacon Financial announced that its board has initiated a stock buyback program on Wednesday, April 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.