Beacon Financial Corporation (BBT) to Issue Quarterly Dividend of $0.32 on May 29th

Beacon Financial Corporation (NYSE:BBT) declared a quarterly dividend on Wednesday, April 29th. Shareholders of record on Friday, May 15th will be paid a dividend of 0.3225 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, May 15th.

Beacon Financial has increased its dividend payment by an average of 0.0%annually over the last three years. Beacon Financial has a payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Beacon Financial to earn $3.92 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 32.9%.

Beacon Financial Price Performance

Shares of NYSE:BBT opened at $28.59 on Friday. The stock has a market cap of $2.40 billion, a PE ratio of 23.63 and a beta of 0.62. Beacon Financial has a 1-year low of $22.81 and a 1-year high of $32.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $30.33 and its two-hundred day simple moving average is $27.99.

Beacon Financial (NYSE:BBT) last released 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). The business had revenue of $214.72 million for the quarter. Beacon Financial had a return on equity of 9.53% and a net margin of 6.97%. As a group, analysts forecast that Beacon Financial will post 3.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael W. Mccurdy sold 17,333 shares of Beacon Financial stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $31.04, for a total value of $538,016.32. Following the completion of the sale, the insider owned 25,555 shares of the company’s stock, valued at approximately $793,227.20. This trade represents a 40.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Beacon Financial

Large investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Beacon Financial in the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Beacon Financial in the 4th quarter worth about $30,000. TD Private Client Wealth LLC purchased a new stake in Beacon Financial in the 4th quarter worth about $32,000. Rockefeller Capital Management L.P. purchased a new stake in Beacon Financial in the 4th quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Beacon Financial in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

About Beacon Financial

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.