Analysts Set Beacon Financial Corporation (NYSE:BBT) Target Price at $32.50

Shares of Beacon Financial Corporation (NYSE:BBT) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.50.

Several equities analysts recently issued reports on the company. Zacks Research upgraded Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Beacon Financial in a report on Tuesday, July 14th. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd.

Beacon Financial Price Performance

BBT opened at $31.35 on Friday. Beacon Financial has a one year low of $22.81 and a one year high of $32.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50 day simple moving average is $31.09 and its 200-day simple moving average is $30.28. The stock has a market capitalization of $2.63 billion, a P/E ratio of 23.75 and a beta of 0.56.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, hitting the consensus estimate 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. Sell-side analysts anticipate that Beacon Financial will post 3.04 earnings per share for the current fiscal year.

Beacon Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s payout ratio is 97.73%.

Hedge Funds Weigh In On Beacon Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Beacon Financial during the fourth quarter worth $30,000. TD Private Client Wealth LLC bought a new position in Beacon Financial during the fourth quarter worth about $32,000. Rockefeller Capital Management L.P. bought a new position in Beacon Financial during the fourth quarter worth about $32,000. Public Employees Retirement System of Ohio acquired a new position in shares of Beacon Financial during the 2nd quarter worth about $37,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Beacon Financial during the 4th quarter worth about $34,000. 83.07% of the stock is owned by institutional investors.

About Beacon Financial

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.