Beacon Financial Corporation (NYSE:BBT) Shareholders to Receive $0.32 Quarterly Dividend

Beacon Financial Corporation (NYSE:BBT) announced a quarterly dividend on Wednesday, October 21st. Investors of record on Friday, November 6th will be given a dividend of $0.3225 per share on Friday, November 20th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 6th.

Beacon Financial has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Beacon Financial to earn $3.33 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 38.7%.

Beacon Financial Price Performance

BBT traded up $0.97 during trading on Thursday, reaching $28.97. 214,229 shares of the company were exchanged, compared to its average volume of 842,775. The company’s 50-day moving average is $29.81 and its two-hundred day moving average is $30.04. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 21.94 and a beta of 0.60. 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.

Beacon Financial (NYSE:BBT) last issued its earnings results on Wednesday, October 21st. The company reported $0.77 EPS 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 return on equity of 9.15% and a net margin of 8.96%. Research analysts forecast that Beacon Financial will post 3.04 earnings per share for the current fiscal year.

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.