Beacon Financial Corporation (NYSE:BBT) Receives $32.00 Average PT from Analysts

Beacon Financial Corporation (NYSE:BBTGet Free Report) has been given a consensus rating of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.00.

Several research analysts have recently issued reports on the company. Hovde Group restated a “market perform” rating and issued a $30.00 price target (down from $33.00) on shares of Beacon Financial in a research report on Friday, May 1st. Royal Bank Of Canada dropped their price objective on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Friday, May 1st. Keefe, Bruyette & Woods cut their target price on Beacon Financial from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Piper Sandler raised their target price on Beacon Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Beacon Financial in a research report on Tuesday, July 14th.

Read Our Latest Report on BBT

Institutional Investors Weigh In On Beacon Financial

Several large investors have recently bought and sold shares of the company. Strategic Value Bank Partners LLC bought a new stake in shares of Beacon Financial in the 4th quarter valued at $16,448,000. Jefferies Financial Group Inc. bought a new position in Beacon Financial during the fourth quarter worth about $3,048,000. UBS Group AG acquired a new position in Beacon Financial in the fourth quarter valued at about $18,815,000. Comerica Bank acquired a new position in Beacon Financial in the fourth quarter valued at about $1,867,000. Finally, Vanguard Group Inc. acquired a new position in Beacon Financial in the fourth quarter valued at about $253,245,000. Institutional investors own 83.07% of the company’s stock.

Beacon Financial Trading Up 0.3%

Shares of NYSE BBT opened at $30.09 on Friday. Beacon Financial has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The firm has a market capitalization of $2.52 billion, a P/E ratio of 24.86 and a beta of 0.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $29.74 and its 200 day simple moving average is $29.65.

Beacon Financial (NYSE:BBTGet Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.13). The business 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%. On average, analysts predict that Beacon Financial will post 3.13 EPS for the current year.

Beacon Financial declared that its board has authorized a stock repurchase program on Wednesday, April 29th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Beacon Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 annualized dividend and a yield of 4.3%. Beacon Financial’s dividend payout ratio (DPR) is presently 106.61%.

About Beacon Financial

(Get Free Report)

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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Analyst Recommendations for Beacon Financial (NYSE:BBT)

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