Beacon Financial (NYSE:BBT) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Beacon Financial shares fell 3.1% to approximately $30.01 despite unusually high trading activity, with 685,768 shares changing hands.
• Analyst sentiment is mixed: Piper Sandler raised its price target to $36 and maintained an “overweight” rating, while the broader analyst consensus remains “Hold” with an average target of $32.50.
• The company reported earnings in line with expectations at $0.77 per share and pays a quarterly dividend of $0.3225, equivalent to a 4.3% yield; however, its 97.73% payout ratio leaves limited room for error.

Beacon Financial Corporation (NYSE:BBT - Get Free Report) shares saw strong trading volume on Monday . 685,768 shares traded hands during mid-day trading, a decline of 15% from the previous session's volume of 810,198 shares.The stock last traded at $30.0060 and had previously closed at $30.83.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler reissued an "overweight" rating and issued a $36.00 price objective (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Zacks Research upgraded Beacon Financial from a "strong sell" rating to a "hold" rating in a report on Friday, July 3rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Beacon Financial in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $32.50.

Beacon Financial Trading Down 3.1%

The business's 50 day moving average price is $31.20 and its two-hundred day moving average price is $30.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 22.63 and a beta of 0.56.

Beacon Financial (NYSE:BBT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, hitting analysts' consensus estimates of $0.77. Beacon Financial had a return on equity of 9.15% and a net margin of 8.96%.The company had revenue of $219.19 million for the quarter. Equities analysts forecast that Beacon Financial Corporation will post 3.04 earnings per share for the current fiscal year.

Beacon Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, August 14th. Beacon Financial's dividend payout ratio is 97.73%.

Hedge Funds Weigh In On Beacon Financial

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in shares of Beacon Financial during the second quarter valued at $557,000. Integrated Wealth Concepts LLC purchased a new position in Beacon Financial in the 2nd quarter worth about $207,000. Corient Private Wealth LP raised its holdings in Beacon Financial by 7.1% during the 2nd quarter. Corient Private Wealth LP now owns 67,429 shares of the company's stock worth $2,053,000 after buying an additional 4,496 shares during the period. Susquehanna Fundamental Investments LLC lifted its stake in Beacon Financial by 231.6% during the second quarter. Susquehanna Fundamental Investments LLC now owns 80,781 shares of the company's stock valued at $2,460,000 after buying an additional 56,422 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of Beacon Financial in the second quarter worth about $293,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

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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