Beacon Financial Corporation $BBT Stock Position Increased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC increased its position in Beacon Financial Corporation (NYSE:BBT) by 231.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 80,781 shares of the company’s stock after acquiring an additional 56,422 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Beacon Financial were worth $2,460,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in Beacon Financial during the fourth quarter worth about $89,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Beacon Financial in the 4th quarter valued at about $517,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Beacon Financial in the 4th quarter valued at about $1,070,000. Arizona State Retirement System bought a new position in shares of Beacon Financial during the 4th quarter valued at about $618,000. Finally, Vanguard Group Inc. bought a new position in shares of Beacon Financial during the 4th quarter valued at about $253,245,000. Institutional investors own 83.07% of the company’s stock.

Beacon Financial Stock Performance

Beacon Financial stock opened at $31.06 on Tuesday. Beacon Financial Corporation has a fifty-two week low of $22.81 and a fifty-two week high of $32.83. The firm’s 50 day simple moving average is $30.96 and its 200-day simple moving average is $30.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $2.60 billion, a P/E ratio of 23.53 and a beta of 0.55.

Beacon Financial (NYSE:BBT) 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 net margin of 8.96% and a return on equity of 9.15%. The firm had revenue of $219.19 million during the quarter. As a group, equities research analysts predict that Beacon Financial Corporation will post 3.04 EPS for the current year.

Beacon Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 14th. Beacon Financial’s payout ratio is presently 97.73%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBT. Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a report on Tuesday, July 14th. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Piper Sandler reaffirmed 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 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, the stock has a consensus rating of “Hold” and an average price target of $32.50.

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.