Corient Private Wealth LP purchased a new stake in Beacon Financial Corporation (NYSE:BBT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 63,569 shares of the company's stock, valued at approximately $1,936,000. Corient Private Wealth LP owned 0.08% of Beacon Financial as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of BBT. Montag A & Associates Inc. bought a new stake in shares of Beacon Financial during the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Beacon Financial in the 4th quarter valued at $30,000. TD Private Client Wealth LLC bought a new position in Beacon Financial in the 4th quarter worth $32,000. Rockefeller Capital Management L.P. bought a new position in Beacon Financial in the 4th quarter worth $32,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Beacon Financial during the 4th quarter worth $34,000. Institutional investors own 83.07% of the company's stock.
Beacon Financial Trading Up 3.0%
Shares of Beacon Financial stock opened at $31.29 on Thursday. The company's fifty day simple moving average is $30.97 and its 200-day simple moving average is $30.24. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 23.70 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. Beacon Financial Corporation has a 1 year low of $22.81 and a 1 year high of $32.83.
Beacon Financial (NYSE:BBT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate 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 during the quarter. As a group, sell-side 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 dividend of $0.3225 per share. The ex-dividend date was Friday, August 14th. This represents a $1.29 annualized dividend and a dividend yield of 4.1%. Beacon Financial's payout ratio is presently 97.73%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on BBT shares. Weiss Ratings restated a "buy (b-)" rating on shares of Beacon Financial in a report on Tuesday, July 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Finally, Zacks Research upgraded Beacon Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, July 3rd. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Beacon Financial currently has a consensus rating of "Hold" and an average price target of $32.50.
View Our Latest Research Report on BBT
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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