Jupiter Topco LLC Invests $1.11 Million in Beacon Financial Corporation $BBT

Jupiter Topco LLC bought a new stake in Beacon Financial Corporation (NYSE:BBT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 36,282 shares of the company’s stock, valued at approximately $1,106,000.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Beacon Financial by 11.2% during the first quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock worth $97,000 after purchasing an additional 325 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Beacon Financial by 2.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock valued at $446,000 after buying an additional 354 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Beacon Financial during the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC bought a new position in shares of Beacon Financial during the 4th quarter worth approximately $32,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Beacon Financial in the 4th quarter worth approximately $32,000. 83.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BBT. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Beacon Financial in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Beacon Financial has an average rating of “Hold” and an average target price of $32.50.

Beacon Financial Stock Performance

Shares of BBT stock opened at $31.90 on Friday. 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 firm has a market cap of $2.67 billion, a price-to-earnings ratio of 24.17 and a beta of 0.56. Beacon Financial Corporation has a 52 week low of $22.81 and a 52 week high of $32.83. The firm’s 50-day simple moving average is $31.00 and its two-hundred day simple moving average is $30.26.

Beacon Financial (NYSE:BBT) last released its earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. The firm had revenue of $219.19 million during the quarter. As a group, equities analysts forecast that Beacon Financial Corporation will post 3.04 earnings per share for the current year.

Beacon Financial Announces Dividend

The company 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 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s dividend payout ratio is 97.73%.

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.