Beacon Financial (NYSE:BBT) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Beacon Financial (NYSE:BBT) released its quarterly earnings data on Wednesday. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01), FiscalAI reports. The business had revenue of $222.60 million during the quarter. Beacon Financial had a net margin of 17.33% and a return on equity of 10.10%.

Beacon Financial Trading Up 6.8%

NYSE:BBT opened at $29.90 on Friday. Beacon Financial has a one year low of $22.81 and a one year high of $32.83. 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 stock has a market cap of $2.51 billion, a price-to-earnings ratio of 9.24 and a beta of 0.60. The business’s 50-day simple moving average is $29.76 and its 200 day simple moving average is $30.04.

Beacon Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, November 6th. Beacon Financial’s dividend payout ratio (DPR) is presently 97.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BBT shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Beacon Financial in a research note on Friday. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. 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, Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Beacon Financial in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBT. Rockefeller Capital Management L.P. acquired a new stake in Beacon Financial in the fourth quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Beacon Financial during the second quarter valued at about $35,000. Public Employees Retirement System of Ohio acquired a new stake in Beacon Financial during the 2nd quarter valued at $37,000. Trust Co. of Vermont purchased a new position in Beacon Financial during the 2nd quarter valued at about $41,000. Finally, Sterling Capital Management LLC lifted its position in Beacon Financial by 32.2% in the 3rd quarter. Sterling Capital Management LLC now owns 1,890 shares of the company’s stock worth $53,000 after buying an additional 460 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

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.