Jupiter Topco LLC bought a new position in shares of Beacon Financial Corporation (NYSE:BBT – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,282 shares of the company’s stock, valued at approximately $1,106,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BBT. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Beacon Financial during the fourth quarter valued at about $30,000. TD Private Client Wealth LLC acquired a new stake in shares of Beacon Financial in the 4th quarter valued at about $32,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Beacon Financial in the 4th quarter valued at about $32,000. EverSource Wealth Advisors LLC bought a new stake in Beacon Financial in the 4th quarter valued at about $34,000. Finally, Trust Co. of Vermont bought a new stake in Beacon Financial in the 2nd quarter valued at about $41,000. 83.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on BBT shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a report on Tuesday, July 14th. Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Finally, Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Beacon Financial has an average rating of “Hold” and an average target price of $32.50.
Beacon Financial Trading Up 1.3%
NYSE:BBT opened at $31.90 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. Beacon Financial Corporation has a one year low of $22.81 and a one year high of $32.83. The company has a market cap of $2.67 billion, a PE ratio of 24.17 and a beta of 0.56. The firm has a 50-day moving average of $31.00 and a 200-day moving average of $30.26.
Beacon Financial (NYSE:BBT – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share 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 net margin of 8.96% and a return on equity of 9.15%. As a group, equities research analysts expect that Beacon Financial Corporation will post 3.04 EPS for the current fiscal year.
Beacon Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, August 14th. Beacon Financial’s dividend payout ratio (DPR) is currently 97.73%.
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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