Beacon Financial Corporation (NYSE:BBT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Beacon Financial Corporation (NYSE:BBT) have received a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $32.50.

A number of brokerages recently commented on BBT. Weiss Ratings lowered Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Piper Sandler restated an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Finally, Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd.

Beacon Financial Stock Down 2.2%

Shares of BBT opened at $27.31 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $30.19. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The firm has a market capitalization of $2.29 billion, a P/E ratio of 20.69 and a beta of 0.60.

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

Beacon Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s payout ratio is presently 97.73%.

Institutional Investors Weigh In On Beacon Financial

Large investors have recently modified their holdings of the stock. Congress Asset Management Co. boosted its stake in Beacon Financial by 22.2% in the 3rd quarter. Congress Asset Management Co. now owns 173,531 shares of the company’s stock valued at $4,857,000 after buying an additional 31,504 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Beacon Financial during the second quarter valued at $557,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Beacon Financial in the 2nd quarter valued at $207,000. Corient Private Wealth LP boosted its stake in shares of Beacon Financial by 7.1% in the 2nd quarter. Corient Private Wealth LP now owns 67,429 shares of the company’s stock valued at $2,053,000 after purchasing an additional 4,496 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Beacon Financial by 231.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 80,781 shares of the company’s stock worth $2,460,000 after purchasing an additional 56,422 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

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.