WINTON GROUP Ltd Makes New $1.16 Million Investment in Beacon Financial Corporation $BBT

WINTON GROUP Ltd purchased a new position in shares of Beacon Financial Corporation (NYSE:BBT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 44,112 shares of the company’s stock, valued at approximately $1,163,000.

A number of other large investors also recently bought and sold shares of the stock. Montag A & Associates Inc. purchased a new position in Beacon Financial during the fourth quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Beacon Financial during the fourth quarter worth approximately $30,000. TD Private Client Wealth LLC purchased a new position in Beacon Financial during the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC purchased a new position in Beacon Financial during the fourth quarter worth approximately $34,000. Finally, Torren Management LLC purchased a new position in Beacon Financial during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BBT shares. Raymond James Financial downgraded shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 1st. Hovde Group reaffirmed a “market perform” rating and set a $30.00 price target (down from $33.00) on shares of Beacon Financial in a research note on Friday, May 1st. Piper Sandler cut 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 note on Monday, May 4th. Zacks Research downgraded shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. 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. Based on data from MarketBeat, Beacon Financial has a consensus rating of “Hold” and a consensus target price of $31.75.

Beacon Financial Stock Performance

Shares of BBT stock opened at $29.34 on Wednesday. The company’s fifty day simple moving average is $29.83 and its 200-day simple moving average is $28.75. Beacon Financial Corporation has a 52 week low of $22.81 and a 52 week high of $32.83. 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 company has a market cap of $2.46 billion, a PE ratio of 24.25 and a beta of 0.56.

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 net margin of 6.97% and a return on equity of 9.02%. The business had revenue of $214.72 million during the quarter. As a group, equities research analysts anticipate that Beacon Financial Corporation will post 3.13 EPS for the current year.

Beacon Financial announced that its board has authorized a share buyback plan on Wednesday, April 29th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Beacon Financial Dividend Announcement

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

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.