Beacon Financial Corporation (NYSE:BBT) Given Consensus Rating of “Hold” by Analysts

Shares of Beacon Financial Corporation (NYSE:BBT) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.75.

Several equities research analysts have recently weighed in on BBT shares. Piper Sandler decreased their price target on Beacon Financial from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Raymond James Financial lowered Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Zacks Research lowered Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Royal Bank Of Canada dropped their target price on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th.

Institutional Investors Weigh In On Beacon Financial

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new stake in Beacon Financial during the fourth quarter worth about $253,245,000. State Street Corp bought a new stake in shares of Beacon Financial in the 4th quarter valued at about $133,275,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Beacon Financial in the 4th quarter valued at about $128,643,000. Dimensional Fund Advisors LP bought a new stake in shares of Beacon Financial in the 4th quarter valued at about $128,568,000. Finally, Azora Capital LP purchased a new position in Beacon Financial during the 4th quarter valued at about $82,619,000. Institutional investors own 83.07% of the company’s stock.

Beacon Financial Price Performance

Shares of BBT opened at $29.77 on Tuesday. Beacon Financial has a 12-month low of $22.81 and a 12-month high of $32.83. The business has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $29.04. 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 stock has a market cap of $2.50 billion, a PE ratio of 24.61 and a beta of 0.56.

Beacon Financial (NYSE:BBT) last issued its earnings results on Wednesday, April 29th. The company reported $0.70 earnings per share (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 firm had revenue of $214.72 million during the quarter. Analysts anticipate that Beacon Financial will post 3.13 earnings per share for the current fiscal year.

Beacon Financial Announces Dividend

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

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

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.