29,461 Shares in Beacon Financial Corporation $BBT Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Beacon Financial Corporation (NYSE:BBT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,461 shares of the company’s stock, valued at approximately $884,000.

A number of other large investors have also recently bought and sold shares of BBT. Vanguard Group Inc. bought a new position in shares of Beacon Financial during the fourth quarter valued at $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. acquired a new stake in shares of Beacon Financial during the 4th quarter worth about $128,643,000. Dimensional Fund Advisors LP acquired a new stake in shares of Beacon Financial during the 4th quarter worth about $128,568,000. Finally, Azora Capital LP acquired a new stake in shares of Beacon Financial during the 4th quarter worth about $82,619,000. 83.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BBT has been the topic of a number of recent analyst reports. Raymond James Financial lowered shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th. Hovde Group reiterated a “market perform” rating and issued a $30.00 target price (down from $33.00) on shares of Beacon Financial in a research note on Friday, May 1st. Keefe, Bruyette & Woods cut their target price on shares of Beacon Financial from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Piper Sandler boosted their target price on Beacon Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Beacon Financial presently has a consensus rating of “Hold” and an average target price of $32.00.

Beacon Financial Stock Up 0.1%

Shares of NYSE BBT opened at $30.23 on Monday. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.83. The firm’s 50-day simple moving average is $29.38 and its 200 day simple moving average is $29.41. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 24.98 and a beta of 0.55.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.13). Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. The company had revenue of $214.72 million during the quarter. On average, research analysts expect that Beacon Financial Corporation will post 3.13 earnings per share for the current fiscal year.

Beacon Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, May 15th. Beacon Financial’s dividend payout ratio is 106.61%.

Beacon Financial announced that its board has authorized a share repurchase program on Wednesday, April 29th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.