Beacon Financial (NYSE:BBT) Director Purchases $104,983.50 in Stock

Beacon Financial Corporation (NYSE:BBT) Director Thomas Hollister bought 3,450 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were purchased at an average cost of $30.43 per share, with a total value of $104,983.50. Following the transaction, the director directly owned 28,876 shares in the company, valued at approximately $878,696.68. This trade represents a 13.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Beacon Financial Trading Up 2.5%

Beacon Financial stock traded up $0.74 during mid-day trading on Monday, hitting $30.81. 1,637,664 shares of the stock were exchanged, compared to its average volume of 861,329. The company has a quick ratio of 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.31. Beacon Financial Corporation has a 12 month low of $22.81 and a 12 month high of $32.83. The firm’s fifty day simple moving average is $29.72 and its two-hundred day simple moving average is $30.04. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.45 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last announced its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. The business had revenue of $222.60 million during the quarter. Analysts forecast that Beacon Financial Corporation will post 3.04 EPS for the current year.

Beacon Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, November 6th. Beacon Financial’s dividend payout ratio (DPR) is currently 47.96%.

Hedge Funds Weigh In On Beacon Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBT. Rockefeller Capital Management L.P. acquired a new position in shares of Beacon Financial in the 4th quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Beacon Financial in the second quarter worth about $35,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Beacon Financial during the 2nd quarter worth about $37,000. Trust Co. of Vermont acquired a new stake in shares of Beacon Financial during the 2nd quarter valued at about $41,000. Finally, Sterling Capital Management LLC raised its stake in shares of Beacon Financial by 32.2% during the 3rd quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after buying an additional 460 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BBT shares. Royal Bank Of Canada raised their price objective on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a “sector perform” rating in a report on Friday. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.00.

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.