Beacon Financial Corporation (NYSE:BBT) Receives $33.25 Consensus Target Price from Brokerages

Shares of Beacon Financial Corporation (NYSE:BBT) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.25.

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Piper Sandler started coverage on Beacon Financial in a report on Monday, March 16th. They set an “overweight” rating and a $33.00 target price for the company. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Royal Bank Of Canada lifted their target price on Beacon Financial from $28.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their target price on Beacon Financial from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 30th.

Beacon Financial Trading Down 0.4%

Shares of Beacon Financial stock opened at $31.58 on Thursday. Beacon Financial has a 52-week low of $22.81 and a 52-week high of $32.31. The stock’s 50-day simple moving average is $30.23 and its 200 day simple moving average is $27.60. The stock has a market capitalization of $2.65 billion, a P/E ratio of 25.89 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.00 and a current ratio of 1.00.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, January 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Beacon Financial had a return on equity of 8.95% and a net margin of 5.85%.

Insiders Place Their Bets

In other Beacon Financial 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 transaction of $538,016.32. Following the completion of the transaction, the insider owned 25,555 shares of the company’s stock, valued at $793,227.20. The trade was a 40.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. bought a new stake in Beacon Financial in the 4th quarter worth approximately $253,245,000. State Street Corp bought a new stake in Beacon Financial in the 4th quarter worth approximately $133,275,000. Fuller & Thaler Asset Management Inc. bought a new stake in Beacon Financial in the 4th quarter worth approximately $128,643,000. Dimensional Fund Advisors LP bought a new stake in Beacon Financial in the 4th quarter worth approximately $128,568,000. Finally, Azora Capital LP bought a new stake in Beacon Financial in the 4th quarter worth approximately $82,619,000. 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.