Insider Buying: Beacon Financial (NYSE:BBT) Director Purchases $10,123.33 in Stock

Beacon Financial Corporation (NYSE:BBT) Director Margaret Boles Fitzgerald purchased 329 shares of Beacon Financial stock in a transaction on Tuesday, October 27th. The shares were acquired at an average price of $30.77 per share, with a total value of $10,123.33. Following the transaction, the director directly owned 18,909 shares in the company, valued at $581,829.93. This trade represents a 1.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Beacon Financial Price Performance

Shares of BBT opened at $30.60 on Friday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 11.37 and a beta of 0.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 0.98. Beacon Financial Corporation has a one year low of $23.63 and a one year high of $32.83. The stock’s fifty day moving average is $29.57 and its 200-day moving average is $29.89.

Beacon Financial (NYSE:BBT) 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 company had revenue of $222.60 million for the quarter. Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. Equities analysts anticipate that Beacon Financial Corporation will post 3.00 EPS for the current year.

Beacon Financial Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, November 6th. Beacon Financial’s dividend payout ratio is currently 47.96%.

Hedge Funds Weigh In On Beacon Financial

A number of institutional investors have recently bought and sold shares of BBT. Jupiter Topco LLC acquired a new stake in shares of Beacon Financial during the second quarter valued at approximately $1,106,000. Legal & General Group Plc purchased a new stake in shares of Beacon Financial in the 2nd quarter valued at approximately $5,756,000. Bank of America Corp DE purchased a new stake in shares of Beacon Financial in the 2nd quarter valued at approximately $32,394,000. The Manufacturers Life Insurance Company acquired a new position in Beacon Financial in the 2nd quarter worth approximately $1,209,000. Finally, Corient Private Wealth LP acquired a new position in Beacon Financial in the 2nd quarter worth approximately $1,936,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BBT. Royal Bank Of Canada boosted their target price on Beacon Financial from $31.00 to $33.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Piper Sandler boosted their target price on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 15th. 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 analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.75.

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.