22,100 Shares in Beacon Financial Corporation $BBT Purchased by Flywheel Private Wealth LLC

Flywheel Private Wealth LLC acquired a new stake in Beacon Financial Corporation (NYSE:BBT) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,100 shares of the company’s stock, valued at approximately $663,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mayflower Financial Advisors LLC acquired a new position in shares of Beacon Financial in the 4th quarter worth approximately $204,000. Parsons Capital Management Inc. RI bought a new stake in shares of Beacon Financial in the 4th quarter valued at approximately $736,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Beacon Financial during the 4th quarter valued at approximately $339,000. Financial Planning Hawaii Inc. acquired a new stake in shares of Beacon Financial during the 4th quarter valued at approximately $274,000. Finally, Nisa Investment Advisors LLC bought a new position in Beacon Financial during the fourth quarter worth $59,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BBT shares. Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a 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 report on Friday, May 1st. Piper Sandler reduced their price target on shares of Beacon Financial from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Hovde Group reaffirmed a “market perform” rating and issued a $30.00 price target (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Beacon Financial presently has an average rating of “Hold” and an average target price of $31.75.

Beacon Financial Trading Up 0.0%

Shares of NYSE BBT opened at $29.61 on Monday. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 24.47 and a beta of 0.56. 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 stock’s 50 day simple moving average is $29.79 and its 200 day simple moving average is $29.02.

Beacon Financial (NYSE:BBT) last issued its quarterly earnings data 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 company had revenue of $214.72 million for the quarter. Equities research analysts expect that Beacon Financial Corporation will post 3.13 EPS for the current year.

Beacon Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, May 15th. This represents a $1.29 annualized dividend and a dividend yield of 4.4%. Beacon Financial’s dividend payout ratio is currently 106.61%.

Beacon Financial announced that its Board of Directors has authorized a stock buyback 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 an indication that the company’s leadership believes its stock is undervalued.

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.