Key Points
- Director Eric Rosengren purchased 700 shares of Beacon Financial at an average price of $30.24, investing $21,168 and increasing his holdings by 9.42% to 8,131 shares.
- Beacon Financial reported quarterly EPS of $0.77, slightly below the $0.78 consensus estimate, on revenue of $222.6 million. The company declared a quarterly dividend of $0.3225 per share, representing a 4.3% yield.
- Institutional investors own 83.07% of the company, while analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $32.75.
Beacon Financial Corporation (NYSE:BBT - Get Free Report) Director Margaret Boles Fitzgerald purchased 329 shares of Beacon Financial stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average price of $30.77 per share, for a total transaction of $10,123.33. Following the acquisition, the director owned 18,909 shares in the company, valued at $581,829.93. This trade represents a 1.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Beacon Financial Trading Down 1.2%
BBT opened at $30.34 on Thursday. The business has a 50 day simple moving average of $29.62 and a two-hundred day simple moving average of $29.86. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 11.28 and a beta of 0.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 1.00. Beacon Financial Corporation has a one year low of $22.81 and a one year 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 analysts' consensus estimates of $0.78 by ($0.01). The business had revenue of $222.60 million during the quarter. Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. Analysts predict that Beacon Financial Corporation will post 3.01 EPS for the current year.
Beacon Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, November 6th. Beacon Financial's dividend payout ratio is currently 47.96%.
Analyst Ratings Changes
Several research firms recently weighed in on BBT. Zacks Research upgraded shares of Beacon Financial from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. Piper Sandler upped their price objective on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an "overweight" rating in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Friday, October 23rd. Finally, Weiss Ratings raised shares of Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $32.75.
Read Our Latest Analysis on Beacon Financial
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BBT. Jupiter Topco LLC purchased a new position in shares of Beacon Financial in the 2nd quarter valued at approximately $1,106,000. Legal & General Group Plc purchased a new stake in Beacon Financial in the second quarter worth $5,756,000. Bank of America Corp DE purchased a new stake in Beacon Financial in the second quarter worth $32,394,000. The Manufacturers Life Insurance Company purchased a new stake in Beacon Financial in the second quarter worth $1,209,000. Finally, Corient Private Wealth LP bought a new position in Beacon Financial in the second quarter worth $1,936,000. Hedge funds and other institutional investors own 83.07% of the company's stock.
Beacon Financial Company Profile
(
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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