DGS Capital Management LLC Takes Position in Beacon Financial Corporation $BBT

DGS Capital Management LLC acquired a new position in Beacon Financial Corporation (NYSE:BBT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,088 shares of the company’s stock, valued at approximately $451,000.

Other large investors also recently added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new position in Beacon Financial in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Beacon Financial during the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC acquired a new position in Beacon Financial during the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC bought a new position in shares of Beacon Financial during the 4th quarter worth approximately $34,000. Finally, Torren Management LLC acquired a new stake in shares of Beacon Financial in the fourth quarter valued at approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBT has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock 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 note on Wednesday, March 18th. Hovde Group restated a “market perform” rating and set a $30.00 target price (down from $33.00) on shares of Beacon Financial in a research report on Friday, May 1st. Keefe, Bruyette & Woods lowered their target price on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Piper Sandler dropped their price target on shares of Beacon Financial from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Three equities research 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’s stock. According to data from MarketBeat, Beacon Financial has a consensus rating of “Hold” and an average target price of $31.75.

Beacon Financial Stock Performance

NYSE BBT opened at $29.61 on Friday. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83. The firm has a market cap of $2.48 billion, a P/E ratio of 24.47 and a beta of 0.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $29.79 and its 200-day moving average is $28.99.

Beacon Financial (NYSE:BBT) last issued 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). Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%.The business had revenue of $214.72 million during the quarter. Sell-side analysts predict that Beacon Financial Corporation will post 3.13 earnings per share for the current year.

Beacon Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 29th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Beacon Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.4%. Beacon Financial’s dividend payout ratio (DPR) is presently 106.61%.

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.