Beacon Financial (NYSE:BBT) Director Margaret Boles Fitzgerald Purchases 329 Shares of Stock

Beacon Financial Corporation (NYSE:BBT) Director Margaret Boles Fitzgerald bought 329 shares of Beacon Financial stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average price of $30.77 per share, with a total value of $10,123.33. Following the completion of the transaction, the director owned 18,909 shares of the company’s stock, valued at $581,829.93. This represents a 1.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Beacon Financial Price Performance

Shares of NYSE BBT opened at $30.34 on Thursday. The stock’s 50-day simple moving average is $29.62 and its two-hundred day simple moving average is $29.86. Beacon Financial Corporation has a twelve month low of $22.81 and a twelve month high of $32.83. The firm has a market capitalization of $2.54 billion, a P/E ratio of 11.28 and a beta of 0.60. The company has a quick ratio of 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.31.

Beacon Financial (NYSE:BBT) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. The business had revenue of $222.60 million for the quarter. As a group, equities analysts anticipate that Beacon Financial Corporation will post 3.01 EPS for the current fiscal year.

Beacon Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 6th. This represents a $1.29 annualized dividend and a dividend yield of 4.3%. Beacon Financial’s dividend payout ratio is 47.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Piper Sandler upped their target price on Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada increased their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in Beacon Financial during the 4th quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Beacon Financial during the 2nd quarter valued at $35,000. Public Employees Retirement System of Ohio purchased a new stake in Beacon Financial during the 2nd quarter valued at $37,000. Trust Co. of Vermont purchased a new stake in Beacon Financial during the 2nd quarter valued at $41,000. Finally, Sterling Capital Management LLC grew its holdings in Beacon Financial by 32.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after acquiring an additional 460 shares during the last quarter. 83.07% of the stock is owned by 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.