Grace & White Inc. NY Takes $4.91 Million Position in Beacon Financial Corporation $BBT

Key Points

• Grace & White Inc. NY opened a new position of 186,349 shares in Beacon Financial in Q4, valued at approximately $4.91 million, representing about 0.22% of the company.
• Analyst sentiment is broadly positive with a MarketBeat average rating of "Moderate Buy" and an average price target of $33.25, including higher targets up to $36 from some firms.
• Institutional investors own 83.07% of the stock while insiders own 1.09%; notable insider activity includes Michael W. McCurdy selling 17,333 shares (about $538k), a 40.41% reduction in his stake.

Grace & White Inc. NY purchased a new stake in shares of Beacon Financial Corporation (NYSE:BBT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 186,349 shares of the company's stock, valued at approximately $4,914,000. Grace & White Inc. NY owned about 0.22% of Beacon Financial at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BBT. Mayflower Financial Advisors LLC acquired a new stake in Beacon Financial during the 4th quarter valued at $204,000. Parsons Capital Management Inc. RI acquired a new stake in Beacon Financial during the 4th quarter valued at $736,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Beacon Financial during the 4th quarter valued at $339,000. Financial Planning Hawaii Inc. acquired a new stake in Beacon Financial during the 4th quarter valued at $274,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Beacon Financial during the 4th quarter valued at $59,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Beacon Financial Stock Down 0.0%

BBT stock opened at $31.59 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 25.89 and a beta of 0.62. The business's fifty day moving average price is $30.25 and its two-hundred day moving average price is $27.62. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.31.

Beacon Financial (NYSE:BBT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. Beacon Financial had a return on equity of 8.95% and a net margin of 5.85%.

Insiders Place Their Bets

In other Beacon Financial news, insider Michael W. Mccurdy sold 17,333 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $31.04, for a total transaction of $538,016.32. Following the transaction, the insider owned 25,555 shares in the company, valued at $793,227.20. This trade represents a 40.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BBT shares. Piper Sandler started coverage on Beacon Financial in a report on Monday, March 16th. They set an "overweight" rating and a $33.00 price target for the company. Royal Bank Of Canada raised their price target on Beacon Financial from $28.00 to $31.00 and gave the company a "sector perform" rating in a report on Friday, January 30th. Zacks Research raised Beacon Financial from a "strong sell" rating to a "hold" rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods raised their price target on Beacon Financial from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Weiss Ratings raised Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Beacon Financial presently has an average rating of "Moderate Buy" and an average price target of $33.25.

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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