Flywheel Private Wealth LLC Purchases Shares of 22,100 Beacon Financial Corporation $BBT

Flywheel Private Wealth LLC purchased a new stake in shares of Beacon Financial Corporation (NYSE:BBT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,100 shares of the company’s stock, valued at approximately $663,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Montag A & Associates Inc. bought a new position in Beacon Financial in the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Beacon Financial during the 4th quarter valued at $30,000. TD Private Client Wealth LLC bought a new stake in Beacon Financial during the 4th quarter valued at $32,000. Rockefeller Capital Management L.P. acquired a new position in Beacon Financial during the 4th quarter worth $32,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Beacon Financial during the 4th quarter worth $34,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Beacon Financial Stock Performance

BBT opened at $29.61 on Monday. The business has a 50 day moving average price of $29.79 and a two-hundred day moving average price of $29.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 24.47 and a beta of 0.56. Beacon Financial Corporation has a 1-year low of $22.81 and a 1-year high of $32.83.

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

Beacon Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 29th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Beacon Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 annualized dividend and a yield of 4.4%. Beacon Financial’s dividend payout ratio (DPR) is currently 106.61%.

Analyst Upgrades and Downgrades

BBT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada cut their price objective on shares of Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Friday, May 1st. Hovde Group reaffirmed a “market perform” rating and issued a $30.00 price objective (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 research report on Friday, May 1st. Finally, Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.75.

Beacon Financial 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.