Strategic Value Bank Partners LLC Makes New Investment in Beacon Financial Corporation $BBT

Key Points

• Strategic Value Bank Partners bought 623,747 shares of Beacon Financial (BBT) in Q4 — about $16.45 million — making BBT the fund's second-largest position at 11.3% of its portfolio and representing roughly 0.74% ownership of Beacon.
• Several other institutions (including Massachusetts Financial Services) also added new stakes, leaving institutional investors with about 83.07% of the company's stock.
• Wall Street sentiment is generally positive with multiple upgrades and price-target increases, a consensus rating of "Moderate Buy" and an average price target of $33.25; the stock trades near $32 after a slight Q4 EPS beat ($0.79 vs. $0.78).

Strategic Value Bank Partners LLC purchased a new position in Beacon Financial Corporation (NYSE:BBT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 623,747 shares of the company's stock, valued at approximately $16,448,000. Beacon Financial accounts for about 11.3% of Strategic Value Bank Partners LLC's investment portfolio, making the stock its 2nd biggest position. Strategic Value Bank Partners LLC owned approximately 0.74% of Beacon Financial at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BBT. Massachusetts Financial Services Co. MA bought a new stake in shares of Beacon Financial in the 4th quarter worth approximately $35,274,000. Grace & White Inc. NY bought a new stake in shares of Beacon Financial in the 4th quarter worth approximately $4,914,000. State of Alaska Department of Revenue bought a new stake in shares of Beacon Financial in the 4th quarter worth approximately $1,179,000. Parsons Capital Management Inc. RI bought a new stake in shares of Beacon Financial in the 4th quarter worth approximately $736,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Beacon Financial in the 4th quarter worth approximately $616,000. Institutional investors own 83.07% of the company's stock.

Wall Street Analysts Forecast Growth

BBT has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of Beacon Financial in a report on Monday, March 16th. They issued an "overweight" rating and a $33.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Beacon Financial from $33.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Weiss Ratings raised shares of Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 18th. Royal Bank Of Canada lifted their price target on shares of Beacon Financial from $28.00 to $31.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Finally, Hovde Group lifted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Beacon Financial Stock Up 2.2%

BBT stock opened at $32.32 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.72 billion, a PE ratio of 26.49 and a beta of 0.62. Beacon Financial Corporation has a twelve month low of $22.81 and a twelve month high of $32.83. The stock has a 50-day simple moving average of $30.28 and a two-hundred day simple moving average of $27.68.

Beacon Financial (NYSE:BBT - Get Free Report) last posted its earnings results on Wednesday, January 28th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates 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 Beacon Financial stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $31.04, for a total transaction of $538,016.32. Following the completion of the transaction, the insider owned 25,555 shares of the company's stock, valued at $793,227.20. The trade was a 40.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is owned by insiders.

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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