Beacon Financial Corporation (NYSE:BBT – Get Free Report) General Counsel John Buckley Eagan sold 641 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $30.61, for a total value of $19,621.01. Following the completion of the transaction, the general counsel directly owned 7,053 shares of the company’s stock, valued at approximately $215,892.33. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Beacon Financial Stock Performance
Shares of BBT opened at $30.34 on Thursday. 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 company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 11.28 and a beta of 0.60. The stock has a 50 day moving average of $29.62 and a 200 day moving average of $29.86. Beacon Financial Corporation has a 12 month low of $22.81 and a 12 month high of $32.83.
Beacon Financial (NYSE:BBT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. The business had revenue of $222.60 million for the quarter. As a group, sell-side analysts forecast that Beacon Financial Corporation will post 3.01 earnings per share for the current 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 given a dividend of $0.3225 per share. The ex-dividend date of this dividend 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%.
Institutional Trading of Beacon Financial
Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. purchased a new position in shares of Beacon Financial during the 4th quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Beacon Financial during the 2nd quarter worth $35,000. Public Employees Retirement System of Ohio purchased a new stake in Beacon Financial in the 2nd quarter worth about $37,000. Trust Co. of Vermont purchased a new stake in Beacon Financial in the 2nd quarter worth about $41,000. Finally, Sterling Capital Management LLC raised its stake in Beacon Financial by 32.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock valued at $53,000 after acquiring an additional 460 shares during the period. 83.07% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on BBT. Piper Sandler boosted their price target on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Royal Bank Of Canada lifted their price objective on shares of Beacon Financial from $31.00 to $33.00 and gave the stock 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 report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.75.
Read Our Latest Analysis on Beacon Financial
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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