Beacon Financial (NYSE:BBT) Stock: Insider John Buckley Eagan Sells 641 Shares

Beacon Financial Corporation (NYSE:BBT) General Counsel John Buckley Eagan sold 641 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $30.61, for a total value of $19,621.01. Following the completion of the sale, the general counsel owned 7,053 shares in the company, valued at $215,892.33. This represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Beacon Financial Trading Down 0.5%

BBT opened at $30.70 on Wednesday. The stock’s 50-day moving average price is $29.66 and its 200 day moving average price is $29.84. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 11.41 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last released its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The business had revenue of $222.60 million during the quarter. On average, research analysts forecast that Beacon Financial Corporation will post 3.01 earnings per share for the current year.

Beacon Financial Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.29 annualized dividend and a dividend yield of 4.2%. Beacon Financial’s dividend payout ratio (DPR) is presently 47.96%.

Institutional Investors Weigh In On Beacon Financial

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Beacon Financial in the 2nd quarter valued at about $35,000. Rockefeller Capital Management L.P. acquired a new position in shares of 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 second quarter worth about $37,000. Trust Co. of Vermont acquired a new position in shares of Beacon Financial during the second quarter worth about $41,000. Finally, Sterling Capital Management LLC increased its stake in shares of Beacon Financial by 32.2% during the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. 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. 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. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Beacon Financial currently has a consensus rating of “Hold” and a consensus target price of $32.75.

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.