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

Beacon Financial Corporation (NYSE:BBT) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.

A number of research firms have issued reports on BBT. Zacks Research upgraded Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a report on Tuesday, July 14th. Hovde Group reissued a “market perform” rating and issued a $30.00 target price (down from $33.00) on shares of Beacon Financial in a research report on Friday, May 1st. Royal Bank Of Canada reduced their price target on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a research report on Friday, May 1st. Finally, Keefe, Bruyette & Woods lowered their price objective 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.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in shares of Beacon Financial during the 4th quarter worth approximately $253,245,000. State Street Corp acquired a new stake in Beacon Financial in the fourth quarter valued at $133,275,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Beacon Financial in the 4th quarter valued at about $128,643,000. Dimensional Fund Advisors LP acquired a new position in shares of Beacon Financial during the 4th quarter worth about $128,568,000. Finally, Azora Capital LP bought a new stake in shares of Beacon Financial in the 4th quarter valued at about $82,619,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Beacon Financial Price Performance

BBT opened at $30.14 on Friday. The stock has a market cap of $2.53 billion, a P/E ratio of 24.91 and a beta of 0.55. Beacon Financial has a 12 month low of $22.81 and a 12 month high of $32.83. 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 has a fifty day simple moving average of $29.66 and a 200 day simple moving average of $29.62.

Beacon Financial (NYSE:BBT) last posted 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). The business had revenue of $214.72 million during the quarter. Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. On average, research analysts expect that Beacon Financial will post 3.13 EPS for the current year.

Beacon Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given 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 payout ratio is 106.61%.

Beacon Financial declared that its board has approved a share buyback program on Wednesday, April 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are often an indication 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.