Beacon Financial Corporation (NYSE:BBT) Declares Quarterly Dividend of $0.32

Key Points

• Beacon Financial declared a quarterly dividend of $0.3225 per share, payable August 28 to shareholders of record August 14. The dividend equates to approximately $1.29 annually and a 4.3% yield, with a payout ratio indicating it is covered by earnings.
• The company reported quarterly EPS of $0.77, matching analyst expectations, on revenue of $219.19 million. Analysts forecast full-year EPS of $3.13, supporting the expected dividend coverage.
• Shares opened down 0.7% at $29.74, while analysts maintained a consensus “Hold” rating and an average price target of $32.00.

Beacon Financial Corporation (NYSE:BBT - Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Friday, August 14th will be paid a dividend of 0.3225 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, August 14th.

Beacon Financial has increased its dividend payment by an average of 0.0%per year over the last three years. Beacon Financial has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Beacon Financial to earn $3.45 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 37.4%.

Beacon Financial Stock Down 0.7%

BBT stock opened at $29.74 on Thursday. The business has a 50-day simple moving average of $29.83 and a 200 day simple moving average of $29.73. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.49 billion, a PE ratio of 24.58 and a beta of 0.55.

Beacon Financial (NYSE:BBT - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $219.19 million during the quarter. Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%. Sell-side analysts anticipate that Beacon Financial will post 3.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Beacon Financial in a report on Tuesday, July 14th. Hovde Group reaffirmed a "market perform" rating and issued a $30.00 price objective (down from $33.00) on shares of Beacon Financial in a research note on Friday, May 1st. Piper Sandler lifted their price objective on Beacon Financial from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Raymond James Financial lowered Beacon Financial from a "strong-buy" rating to a "market perform" rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada cut their price objective on Beacon Financial from $33.00 to $31.00 and set a "sector perform" rating for the company in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $32.00.

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.

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