Beacon Financial Corporation (BBT) To Go Ex-Dividend on November 6th

Beacon Financial Corporation (NYSE:BBT) announced a quarterly dividend on Wednesday, October 21st. Stockholders of record on Friday, November 6th will be given a dividend of $0.3225 per share on Friday, November 20th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, November 6th.

Beacon Financial has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Beacon Financial to earn $3.39 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 38.1%.

Beacon Financial Stock Performance

Shares of Beacon Financial stock opened at $30.88 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 1.00. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 10.42 and a beta of 0.61. The business has a 50-day moving average of $29.56 and a 200 day moving average of $29.93. Beacon Financial has a 12 month low of $24.11 and a 12 month high of $32.83.

Beacon Financial (NYSE:BBT) last released its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). The business had revenue of $222.60 million for the quarter. Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. As a group, sell-side analysts forecast that Beacon Financial will post 3.00 earnings per share for the current year.

Analysts Set New Price Targets

BBT has been the topic of a number of analyst reports. Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 15th. Piper Sandler raised their price target on Beacon Financial from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th. Finally, Royal Bank Of Canada upped their price target on Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average 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.