Key Points
- General Counsel John Buckley Eagan sold 641 shares of Beacon Financial at an average price of $30.61, reducing his direct ownership by 8.33% to 7,053 shares.
- Beacon Financial reported quarterly EPS of $0.77, slightly below the $0.78 consensus estimate, on revenue of $222.6 million. The stock opened at $30.81, with a market capitalization of approximately $2.58 billion.
- The company declared a quarterly dividend of $0.3225, equivalent to an annualized $1.29 payout and a 4.2% yield. Analysts maintain an overall “Hold” rating, with an average price target of $33.00.
Beacon Financial Corporation (NYSE:BBT - Get Free Report) General Counsel John Buckley Eagan sold 641 shares of the business's stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $30.61, for a total transaction of $19,621.01. Following the transaction, the general counsel directly owned 7,053 shares of the company's stock, valued at $215,892.33. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Beacon Financial Stock Performance
NYSE:BBT opened at $30.81 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2.58 billion, a P/E ratio of 9.92 and a beta of 0.60. The stock has a 50-day moving average price of $29.72 and a 200 day moving average price of $29.80. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83.
Beacon Financial (NYSE:BBT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. The company had revenue of $222.60 million for the quarter. Equities research analysts forecast that Beacon Financial Corporation will post 3.04 EPS for the current fiscal year.
Beacon Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, November 6th. Beacon Financial's dividend payout ratio (DPR) is presently 47.96%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Beacon Financial by 11.2% during the first quarter. Blue Trust Inc. now owns 3,220 shares of the company's stock valued at $97,000 after buying an additional 325 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Beacon Financial by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company's stock worth $446,000 after acquiring an additional 354 shares during the last quarter. Sterling Capital Management LLC lifted 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 acquiring an additional 460 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Beacon Financial during the 2nd quarter valued at $35,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Beacon Financial during the 4th quarter valued at $32,000. Institutional investors own 83.07% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on BBT shares. Weiss Ratings upgraded Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 15th. Piper Sandler reaffirmed an "overweight" rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Friday. 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. 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 MarketBeat, Beacon Financial currently has an average rating of "Hold" and an average target price of $33.00.
Get Our Latest Analysis on BBT
About Beacon Financial
(
Get Free Report)
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.
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