Beacon Financial Corporation (NYSE:BBT) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Analyst consensus is “Hold”: Four of seven analysts rate Beacon Financial a hold and three rate it a buy, with an average 12-month price target of $33.00.
• Quarterly earnings slightly missed expectations: The company reported $0.77 in EPS versus the $0.78 consensus estimate, alongside $222.6 million in revenue and a 17.33% net margin.
• Beacon Financial offers a 4.3% dividend yield: Its quarterly dividend is $0.3225 per share, or $1.29 annualized, while institutional investors own 83.07% of the stock.

Beacon Financial Corporation (NYSE:BBT - Get Free Report) has been given a consensus rating of "Hold" by the seven research firms that are covering the company, Marketbeat Ratings reports. Four equities 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 target among analysts that have covered the stock in the last year is $33.00.

Several brokerages recently weighed in on BBT. Zacks Research upgraded shares of Beacon Financial from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. Royal Bank Of Canada lifted their target price on shares of Beacon Financial from $31.00 to $33.00 and gave the stock a "sector perform" rating in a report on Friday. Weiss Ratings raised shares of Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 15th. Finally, Piper Sandler reissued an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd.

Beacon Financial Stock Performance

Shares of NYSE:BBT opened at $30.05 on Monday. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. Beacon Financial has a 1-year low of $22.81 and a 1-year high of $32.83. The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.17 and a beta of 0.60. The business has a 50-day moving average price of $29.72 and a two-hundred day moving average price of $30.04.

Beacon Financial (NYSE:BBT - Get Free Report) last issued its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). Beacon Financial had a net margin of 17.33% and a return on equity of 10.09%. The business had revenue of $222.60 million during the quarter. Equities analysts predict that Beacon Financial will post 3.04 earnings per share for the current year.

Beacon Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.29 annualized dividend and a dividend yield of 4.3%. Beacon Financial's payout ratio is 47.96%.

Institutional Investors Weigh In On Beacon Financial

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its stake in Beacon Financial by 32.2% in the third quarter. Sterling Capital Management LLC now owns 1,890 shares of the company's stock valued at $53,000 after buying an additional 460 shares in the last quarter. Clark Financial Services Group Inc. BD lifted its stake in Beacon Financial by 17.7% in the third quarter. Clark Financial Services Group Inc. BD now owns 17,981 shares of the company's stock valued at $503,000 after acquiring an additional 2,709 shares during the last quarter. SummerHaven Investment Management LLC bought a new stake in shares of Beacon Financial in the 3rd quarter valued at about $910,000. Congress Asset Management Co. raised its holdings in shares of Beacon Financial by 22.2% in the 3rd quarter. Congress Asset Management Co. now owns 173,531 shares of the company's stock valued at $4,857,000 after purchasing an additional 31,504 shares during the period. Finally, Tidal Investments LLC bought a new position in Beacon Financial during the second quarter worth about $557,000. 83.07% of the stock is currently owned by institutional investors.

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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