Beacon Financial Corporation (NYSE:BBT) Stock Has Consensus Price Target of $33.00

Shares of Beacon Financial Corporation (NYSE:BBT) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.00.

Several analysts have recently issued reports on the company. Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 15th. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Royal Bank Of Canada increased their price objective on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd.

Institutional Investors Weigh In On Beacon Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBT. Blue Trust Inc. raised its stake in Beacon Financial by 11.2% during the first quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock worth $97,000 after acquiring an additional 325 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Beacon Financial by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock worth $446,000 after acquiring an additional 354 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Beacon Financial by 32.2% in the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after acquiring an additional 460 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Beacon Financial in the second quarter worth about $35,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Beacon Financial in the 4th quarter valued at approximately $32,000. 83.07% of the stock is currently owned by institutional investors.

Beacon Financial Stock Performance

Shares of NYSE:BBT opened at $30.05 on Monday. The company’s 50 day moving average price is $29.72 and its two-hundred day moving average price is $30.04. 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 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.31. The firm has a market cap of $2.52 billion, a PE ratio of 11.17 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The company had revenue of $222.60 million during the quarter. Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. Equities research analysts predict that Beacon Financial will post 3.04 earnings per share for the current year.

Beacon Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 6th. This represents a $1.29 annualized dividend and a dividend yield of 4.3%. Beacon Financial’s dividend payout ratio (DPR) is currently 47.96%.

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.