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

Beacon Financial Corporation (NYSE:BBT) has received a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.50.

BBT has been the subject of several recent analyst reports. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a research note on Tuesday, July 14th.

Beacon Financial Price Performance

BBT stock opened at $31.90 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 24.17 and a beta of 0.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Beacon Financial has a 12-month low of $22.81 and a 12-month high of $32.83. The company’s fifty day simple moving average is $31.00 and its 200 day simple moving average is $30.26.

Beacon Financial (NYSE:BBT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $219.19 million during the quarter. Beacon Financial had a return on equity of 9.15% and a net margin of 8.96%. On average, analysts expect that Beacon Financial will post 3.04 earnings per share for the current year.

Beacon Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s payout ratio is 97.73%.

Institutional Trading of Beacon Financial

Several large investors have recently made changes to their positions in BBT. BlackRock Inc. acquired a new position in Beacon Financial during the 2nd quarter worth approximately $376,552,000. Vanguard Group Inc. acquired a new stake in Beacon Financial in the fourth quarter valued at approximately $253,245,000. State Street Corp bought a new stake in shares of Beacon Financial during the fourth quarter valued at approximately $133,275,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Beacon Financial during the fourth quarter worth approximately $128,643,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Beacon Financial in the 4th quarter worth $128,568,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.