Beacon Financial Corporation (NYSE:BBT – Get Free Report) Director Thomas Hollister bought 3,450 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were purchased at an average price of $30.43 per share, with a total value of $104,983.50. Following the acquisition, the director directly owned 28,876 shares in the company, valued at approximately $878,696.68. This trade represents a 13.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Beacon Financial Stock Performance
NYSE:BBT opened at $30.34 on Thursday. Beacon Financial Corporation has a twelve month low of $22.81 and a twelve month high of $32.83. The firm’s fifty day simple moving average is $29.62 and its 200 day simple moving average is $29.86. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 11.28 and a beta of 0.60.
Beacon Financial (NYSE:BBT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). The firm had revenue of $222.60 million during the quarter. Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. As a group, equities research analysts expect that Beacon Financial Corporation will post 3.01 earnings per share for the current fiscal year.
Beacon Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid 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 (DPR) is currently 47.96%.
Hedge Funds Weigh In On Beacon Financial
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Beacon Financial during the second quarter valued at approximately $376,552,000. Bank of America Corp DE bought a new position in Beacon Financial during the 2nd quarter worth approximately $32,394,000. Walleye Capital LLC acquired a new position in shares of Beacon Financial in the 2nd quarter worth approximately $20,265,000. Bank of New York Mellon Corp acquired a new position in shares of Beacon Financial in the 2nd quarter worth approximately $16,478,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Beacon Financial by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 407,331 shares of the company’s stock valued at $12,220,000 after acquiring an additional 7,443 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on BBT. Weiss Ratings upgraded Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Royal Bank Of Canada raised their price objective on Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Piper Sandler lifted their price objective on Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $32.75.
Check Out Our Latest Analysis on BBT
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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