Beacon Financial (NYSE:BBT) Stock: Insider Thomas Hollister Acquires 3,450 Shares

Key Points

• Director Thomas Hollister purchased 3,450 shares of Beacon Financial at an average price of $30.43, investing approximately $104,984 and increasing his direct stake by 13.57% to 28,876 shares.
• Beacon Financial shares rose 2.5% to $30.81, while the company reported quarterly EPS of $0.77, slightly below the $0.78 analyst consensus, on revenue of $222.6 million.
• The company declared a quarterly dividend of $0.3225 per share, equivalent to an annualized $1.29 payout and a 4.2% yield; analysts maintain a consensus “Hold” rating with a $33.00 target price.

Beacon Financial Corporation (NYSE:BBT - Get Free Report) Director Thomas Hollister bought 3,450 shares of the stock in a transaction on Monday, October 26th. The stock was purchased at an average cost of $30.43 per share, for a total transaction of $104,983.50. Following the acquisition, the director directly owned 28,876 shares of the company's stock, valued at $878,696.68. The trade was a 13.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Beacon Financial Trading Up 2.5%

Shares of BBT stock traded up $0.74 on Monday, reaching $30.81. 1,637,664 shares of the stock were exchanged, compared to its average volume of 861,329. The stock has a market cap of $2.58 billion, a P/E ratio of 11.45 and a beta of 0.60. The company has a quick ratio of 1.00, a current ratio of 0.98 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $29.72 and a two-hundred day moving average of $30.04. 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 issued its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.01). Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. The business had revenue of $222.60 million for the quarter. On average, research analysts anticipate that Beacon Financial Corporation will post 3.04 EPS for the current year.

Beacon Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 6th. Beacon Financial's payout ratio is 47.96%.

Institutional Investors Weigh In On Beacon Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC bought a new stake in Beacon Financial in the 2nd quarter valued at about $1,106,000. Legal & General Group Plc acquired a new position in shares of Beacon Financial during the 2nd quarter worth approximately $5,756,000. Bank of America Corp DE acquired a new position in shares of Beacon Financial during the 2nd quarter worth approximately $32,394,000. The Manufacturers Life Insurance Company bought a new position in shares of Beacon Financial during the second quarter worth approximately $1,209,000. Finally, Corient Private Wealth LP bought a new position in shares of Beacon Financial during the second quarter worth approximately $1,936,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler reiterated an "overweight" rating and set a $36.00 target price (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the company a "sector perform" rating in a research report on Friday. Weiss Ratings upgraded shares of Beacon Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 15th. Finally, Zacks Research upgraded 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Beacon Financial presently has an average rating of "Hold" and a consensus target price of $33.00.

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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