Oregon Public Employees Retirement Fund Buys Shares of 19,227 Beacon Financial Corporation $BBT

Oregon Public Employees Retirement Fund bought a new stake in Beacon Financial Corporation (NYSE:BBT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,227 shares of the company’s stock, valued at approximately $507,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Montag A & Associates Inc. acquired a new position in Beacon Financial in the 4th quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Beacon Financial in the 4th quarter valued at about $30,000. Torren Management LLC acquired a new position in Beacon Financial in the 4th quarter valued at about $35,000. Trust Co. of Vermont acquired a new position in shares of Beacon Financial in the 4th quarter worth approximately $35,000. Finally, NBT Bank N A NY acquired a new position in shares of Beacon Financial in the 4th quarter worth approximately $36,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael W. Mccurdy sold 17,333 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $31.04, for a total transaction of $538,016.32. Following the sale, the insider directly owned 25,555 shares of the company’s stock, valued at $793,227.20. This represents a 40.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.09% of the stock is currently owned by insiders.

Beacon Financial Price Performance

Shares of BBT opened at $28.84 on Thursday. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The firm’s 50 day moving average price is $29.87 and its 200 day moving average price is $28.40. The company has a market cap of $2.42 billion, a P/E ratio of 23.83 and a beta of 0.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Beacon Financial (NYSE:BBT) last announced its earnings results on Wednesday, April 29th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.13). Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%.The business had revenue of $214.72 million for the quarter. On average, research analysts forecast that Beacon Financial Corporation will post 3.13 earnings per share for the current fiscal year.

Beacon Financial announced that its Board of Directors has approved a share buyback plan on Wednesday, April 29th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Beacon Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. Beacon Financial’s dividend payout ratio is presently 106.61%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research lowered shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Raymond James Financial lowered shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods decreased their price objective on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Piper Sandler decreased their price objective on shares of Beacon Financial from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Finally, Hovde Group restated a “market perform” rating and issued a $30.00 price objective (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Beacon Financial has an average rating of “Hold” and a consensus target price of $31.75.

Beacon Financial 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.