Beacon Financial Corporation (NYSE:BBT – Get Free Report) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.75.
Several brokerages recently issued reports on BBT. Hovde Group reaffirmed a “market perform” rating and set a $30.00 target price (down from $33.00) on shares of Beacon Financial in a research report on Friday, May 1st. Royal Bank Of Canada lowered their target price on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, May 1st. Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. Piper Sandler lowered their target price on Beacon Financial from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Zacks Research lowered Beacon Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th.
Get Our Latest Stock Analysis on BBT
Institutional Inflows and Outflows
Beacon Financial Stock Up 1.2%
Shares of NYSE:BBT opened at $28.60 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 23.63 and a beta of 0.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Beacon Financial has a 12-month low of $22.81 and a 12-month high of $32.83. The business has a fifty day simple moving average of $29.87 and a 200 day simple moving average of $28.66.
Beacon Financial (NYSE:BBT – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.13). The company had revenue of $214.72 million for the quarter. Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%. Analysts predict that Beacon Financial will post 3.13 earnings per share for the current year.
Beacon Financial declared that its board has authorized a stock buyback program on Wednesday, April 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Beacon Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 annualized dividend and a dividend yield of 4.5%. Beacon Financial’s dividend payout ratio (DPR) is 106.61%.
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.
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