Beacon Financial Corporation (NYSE:BBT) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts hold a neutral view: Seven analysts give Beacon Financial a consensus “Hold” rating—four holds and three buys—with an average 12-month price target of $32.50. Piper Sandler raised its target to $36 while maintaining an overweight rating.
• Recent results matched expectations: Beacon Financial reported quarterly earnings of $0.77 per share, in line with consensus, on $219.19 million in revenue. Shares opened at $31.90, near the average analyst target and the stock’s 12-month high of $32.83.
• Dividend yield is attractive but payout is high: The company pays an annualized dividend of $1.29, yielding about 4.0%, while its dividend payout ratio stands at 97.73%. Institutional investors and hedge funds own approximately 83.07% of the stock.

Shares of Beacon Financial Corporation (NYSE:BBT - Get Free Report) have received a consensus rating of "Hold" from the seven analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $32.50.

A number of brokerages recently weighed in on BBT. Piper Sandler restated an "overweight" rating and set a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Zacks Research upgraded Beacon Financial from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Beacon Financial in a research note on Tuesday, July 14th.

Beacon Financial Stock Up 1.3%

Shares of NYSE BBT opened at $31.90 on Friday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 24.17 and a beta of 0.56. 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 stock has a 50-day moving average price of $31.00 and a two-hundred day moving average price of $30.26. Beacon Financial has a 12 month low of $22.81 and a 12 month high of $32.83.

Beacon Financial (NYSE:BBT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, hitting analysts' consensus estimates of $0.77. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. The firm had revenue of $219.19 million for the quarter. As a group, 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 declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, August 14th. Beacon Financial's dividend payout ratio is 97.73%.

Institutional Trading of Beacon Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Beacon Financial in the 4th quarter valued at about $30,000. TD Private Client Wealth LLC bought a new position in shares of Beacon Financial during the fourth quarter worth about $32,000. Rockefeller Capital Management L.P. bought a new position in shares of Beacon Financial during the fourth quarter worth about $32,000. EverSource Wealth Advisors LLC acquired a new position in shares of Beacon Financial in the fourth quarter worth approximately $34,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Beacon Financial in the second quarter valued at approximately $37,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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