Beacon Financial Corporation (NYSE:BBT) Stock Has Average Target Price of $33.00 According to Analysts

Beacon Financial Corporation (NYSE:BBT) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $32.75.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 15th. Piper Sandler upped their target price on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Finally, Royal Bank Of Canada lifted their price objective on Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd.

Beacon Financial Price Performance

Shares of NYSE:BBT opened at $30.60 on Monday. Beacon Financial has a 1-year low of $23.63 and a 1-year high of $32.83. The stock’s fifty day simple moving average is $29.57 and its two-hundred day simple moving average is $29.89. 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 cap of $2.56 billion, a PE ratio of 11.37 and a beta of 0.61.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. The firm had revenue of $222.60 million during the quarter. As a group, analysts forecast that Beacon Financial will post 3.00 EPS for the current fiscal year.

Beacon Financial Dividend Announcement

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 issued a $0.3225 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.2%. Beacon Financial’s dividend payout ratio is presently 47.96%.

Insider Buying and Selling

In other news, Director Thomas Hollister purchased 3,450 shares of the stock in a transaction dated Monday, October 26th. The shares were acquired at an average cost of $30.43 per share, for a total transaction of $104,983.50. Following the acquisition, the director owned 28,876 shares of the company’s stock, valued at approximately $878,696.68. This represents a 13.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 4,479 shares of company stock valued at $136,275 over the last ninety days. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in Beacon Financial by 11.2% during the 1st quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock valued at $97,000 after acquiring an additional 325 shares in the last quarter. PNC Financial Services Group Inc. boosted its position 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 period. Sterling Capital Management LLC raised its holdings in Beacon Financial by 32.2% in the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock valued at $53,000 after acquiring an additional 460 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Beacon Financial by 0.9% during the third quarter. Hennessy Advisors Inc. now owns 116,000 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Beacon Financial in the second quarter valued at approximately $35,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Beacon Financial Company 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.