Susquehanna Fundamental Investments LLC lifted its stake in shares of Beacon Financial Corporation (NYSE:BBT - Free Report) by 231.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 80,781 shares of the company's stock after buying an additional 56,422 shares during the quarter. Susquehanna Fundamental Investments LLC owned 0.10% of Beacon Financial worth $2,460,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BBT. Montag A & Associates Inc. acquired a new stake in Beacon Financial in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Beacon Financial in the fourth quarter worth about $30,000. TD Private Client Wealth LLC acquired a new position in shares of Beacon Financial in the 4th quarter valued at approximately $32,000. Rockefeller Capital Management L.P. bought a new position in Beacon Financial during the 4th quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Beacon Financial during the fourth quarter worth about $34,000. 83.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Beacon Financial in a research note on Tuesday, July 14th. Piper Sandler reiterated an "overweight" rating and issued a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Finally, Zacks Research raised shares of Beacon Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.50.
View Our Latest Research Report on BBT
Beacon Financial Price Performance
Shares of NYSE BBT opened at $31.06 on Tuesday. The stock has a market cap of $2.60 billion, a P/E ratio of 23.53 and a beta of 0.55. The firm's 50-day simple moving average is $30.96 and its 200 day simple moving average is $30.25. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.
Beacon Financial (NYSE:BBT - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.77. The firm had revenue of $219.19 million during the quarter. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. Equities analysts expect that Beacon Financial Corporation will post 3.04 EPS for the current year.
Beacon Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.3225 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.29 annualized dividend and a dividend yield of 4.2%. Beacon Financial's dividend payout ratio (DPR) is 97.73%.
About Beacon Financial
(
Free Report)
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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