Systematic Financial Management LP Invests $30.08 Million in Beacon Financial Corporation $BBT

Systematic Financial Management LP bought a new position in Beacon Financial Corporation (NYSE:BBT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,140,629 shares of the company’s stock, valued at approximately $30,078,000. Systematic Financial Management LP owned about 1.36% of Beacon Financial at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BBT. Mayflower Financial Advisors LLC bought a new stake in shares of Beacon Financial in the 4th quarter worth about $204,000. Parsons Capital Management Inc. RI bought a new stake in shares of Beacon Financial in the 4th quarter worth about $736,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Beacon Financial in the 4th quarter worth about $339,000. Financial Planning Hawaii Inc. bought a new stake in shares of Beacon Financial in the 4th quarter worth about $274,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Beacon Financial in the 4th quarter worth about $59,000. Institutional investors own 83.07% of the company’s stock.

Beacon Financial Trading Down 0.5%

BBT stock opened at $28.82 on Friday. The company has a market capitalization of $2.42 billion, a PE ratio of 23.81 and a beta of 0.55. Beacon Financial Corporation has a 12 month low of $22.81 and a 12 month high of $32.83. The firm’s 50-day moving average is $29.87 and its 200 day moving average is $28.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.13). The company had revenue of $214.72 million during the quarter. Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%. On average, research analysts anticipate that Beacon Financial Corporation will post 3.13 EPS for the current year.

Beacon Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. Beacon Financial’s dividend payout ratio (DPR) is currently 106.61%.

Beacon Financial declared that its board has approved a share repurchase plan on Wednesday, April 29th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on BBT. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th. Zacks Research lowered shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Hovde Group restated a “market perform” rating and issued a $30.00 target price (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Raymond James Financial lowered shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Beacon Financial presently has a consensus rating of “Hold” and an average target price of $31.75.

Insider Buying and Selling

In related news, insider Michael W. Mccurdy sold 17,333 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $31.04, for a total value of $538,016.32. Following the transaction, the insider owned 25,555 shares of the company’s stock, valued at $793,227.20. This trade represents a 40.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.09% of the stock is owned by corporate insiders.

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.