Beacon Financial Corporation (NYSE:BBT) Stock Has Average Price Target of $32.50 According to Brokerages

Beacon Financial Corporation (NYSE:BBT) has been given an average recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $32.50.

A number of brokerages recently issued reports on BBT. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Weiss Ratings cut Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Zacks Research upgraded Beacon Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd.

Institutional Trading of Beacon Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new position in shares of Beacon Financial during the fourth quarter worth approximately $32,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Beacon Financial in the fourth quarter worth $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Beacon Financial in the second quarter worth $35,000. Public Employees Retirement System of Ohio bought a new position in Beacon Financial during the second quarter worth $37,000. Finally, Trust Co. of Vermont bought a new position in Beacon Financial during the second quarter worth $41,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Beacon Financial Stock Performance

NYSE:BBT opened at $28.34 on Thursday. Beacon Financial has a twelve month low of $22.81 and a twelve month high of $32.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $30.76 and a 200-day moving average of $30.20. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 21.47 and a beta of 0.60.

Beacon Financial (NYSE:BBT) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $219.19 million during the quarter. Beacon Financial had a return on equity of 9.15% and a net margin of 8.96%. Analysts forecast that Beacon Financial will post 3.04 earnings per share for the current fiscal year.

Beacon Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.3225 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.6%. Beacon Financial’s payout ratio is presently 97.73%.

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.