Susquehanna International Group LLP reduced its holdings in Beacon Financial Corporation (NYSE:BBT – Free Report) by 85.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,218 shares of the company’s stock after selling 64,684 shares during the period. Susquehanna International Group LLP’s holdings in Beacon Financial were worth $342,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new position in Beacon Financial during the fourth quarter valued at approximately $89,000. Arizona State Retirement System acquired a new position in shares of Beacon Financial during the 4th quarter worth approximately $618,000. Vanguard Group Inc. acquired a new position in shares of Beacon Financial during the 4th quarter worth approximately $253,245,000. UBS Group AG bought a new stake in shares of Beacon Financial during the 4th quarter worth approximately $18,815,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Beacon Financial during the 4th quarter worth approximately $319,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on BBT. Piper Sandler reissued an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a research note on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Beacon Financial has an average rating of “Hold” and a consensus price target of $32.50.
Beacon Financial Stock Down 2.2%
BBT opened at $30.37 on Wednesday. The stock’s fifty day simple moving average is $30.96 and its 200 day simple moving average is $30.24. Beacon Financial Corporation has a 1-year low of $22.81 and a 1-year high of $32.83. The stock has a market cap of $2.55 billion, a PE ratio of 23.01 and a beta of 0.56. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.
Beacon Financial (NYSE:BBT – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. The firm had revenue of $219.19 million during the quarter. As a group, research analysts expect that Beacon Financial Corporation will post 3.04 earnings per share for the current year.
Beacon Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.29 annualized dividend and a dividend yield of 4.2%. Beacon Financial’s payout ratio is presently 97.73%.
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.
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