Beacon Financial Corporation (NYSE:BBT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Beacon Financial Corporation (NYSE:BBT) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $33.25.

A number of brokerages have issued reports on BBT. Royal Bank Of Canada lifted their price target on shares of Beacon Financial from $28.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th. Keefe, Bruyette & Woods lifted their price target on shares of Beacon Financial from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Piper Sandler began 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.

Insider Buying and Selling at Beacon Financial

In other news, insider Michael W. Mccurdy sold 17,333 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $31.04, for a total value of $538,016.32. Following the sale, the insider directly owned 25,555 shares in the company, valued at $793,227.20. The trade was a 40.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Beacon Financial

A number of large investors have recently made changes to their positions in BBT. Vanguard Group Inc. bought a new stake in shares of Beacon Financial in the 4th quarter worth about $253,245,000. State Street Corp bought a new stake in shares of Beacon Financial in the 4th quarter worth about $133,275,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Beacon Financial in the 4th quarter worth about $128,643,000. Dimensional Fund Advisors LP bought a new stake in shares of Beacon Financial in the 4th quarter worth about $128,568,000. Finally, Azora Capital LP bought a new stake in shares of Beacon Financial in the 4th quarter worth about $82,619,000. 83.07% of the stock is currently owned by institutional investors.

Beacon Financial Price Performance

NYSE BBT traded down $0.12 on Thursday, reaching $31.52. The company had a trading volume of 28,231 shares, compared to its average volume of 815,149. 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 stock has a market capitalization of $2.65 billion, a PE ratio of 25.84 and a beta of 0.62. The firm’s 50 day moving average price is $58.07 and its 200 day moving average price is $50.45. Beacon Financial has a 12 month low of $22.27 and a 12 month high of $32.00.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Beacon Financial had a net margin of 5.85% and a return on equity of 8.95%.

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.