Oregon Public Employees Retirement Fund Invests $507,000 in Beacon Financial Corporation $BBT

Oregon Public Employees Retirement Fund bought a new position in shares of Beacon Financial Corporation (NYSE:BBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,227 shares of the company’s stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also modified their holdings of BBT. Mayflower Financial Advisors LLC purchased a new stake in shares of Beacon Financial during the fourth quarter worth about $204,000. Parsons Capital Management Inc. RI purchased a new stake in shares of Beacon Financial during the fourth quarter worth about $736,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Beacon Financial during the fourth quarter worth about $339,000. Financial Planning Hawaii Inc. purchased a new stake in shares of Beacon Financial during the fourth quarter worth about $274,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Beacon Financial during the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Beacon Financial Stock Up 3.0%

Shares of NYSE BBT opened at $28.84 on Thursday. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83. The stock has a market cap of $2.42 billion, a PE ratio of 23.83 and a beta of 0.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $29.87 and a 200 day moving average of $28.40.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.13). Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. The business had revenue of $214.72 million for the quarter. As a group, sell-side analysts predict that Beacon Financial Corporation will post 3.13 EPS for the current fiscal year.

Beacon Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, May 15th. Beacon Financial’s payout ratio is presently 106.61%.

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

Analyst Ratings Changes

A number of analysts have recently commented on BBT shares. Royal Bank Of Canada cut their target price on shares of Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. Raymond James Financial cut shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods dropped their price objective on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Hovde Group reaffirmed a “market perform” rating and set a $30.00 price objective (down from $33.00) on shares of Beacon Financial in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Beacon Financial presently has a consensus rating of “Hold” and an average target price of $31.75.

Insiders Place Their Bets

In other Beacon Financial news, insider Michael W. Mccurdy sold 17,333 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $31.04, for a total value of $538,016.32. Following the transaction, the insider directly owned 25,555 shares in the company, valued at $793,227.20. The trade was a 40.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.09% of the stock is owned by insiders.

Beacon Financial 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.