Beacon Financial Sees Unusually Large Options Volume (NYSE:BBT)

Beacon Financial Corporation (NYSE:BBT) was the recipient of some unusual options trading activity on Monday. Investors acquired 3,919 call options on the company. This is an increase of 1,540% compared to the typical daily volume of 239 call options.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBT. Weiss Ratings upgraded Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Royal Bank Of Canada upped their target price on Beacon Financial from $31.00 to $33.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Finally, Piper Sandler increased their price objective on shares of Beacon Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.75.

Insider Activity

In other news, Director Thomas Hollister bought 3,450 shares of Beacon Financial stock in a transaction that occurred on Monday, October 26th. The stock was bought at an average price of $30.43 per share, for a total transaction of $104,983.50. Following the purchase, the director directly owned 28,876 shares of the company’s stock, valued at approximately $878,696.68. The trade was a 13.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 4,479 shares of company stock valued at $136,275. 1.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Beacon Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Beacon Financial during the 2nd quarter worth approximately $376,552,000. Bank of America Corp DE acquired a new position in Beacon Financial in the 2nd quarter valued at approximately $32,394,000. Walleye Capital LLC purchased a new stake in shares of Beacon Financial during the 2nd quarter valued at $20,265,000. Bank of New York Mellon Corp bought a new stake in shares of Beacon Financial in the second quarter valued at approximately $16,478,000. Finally, Empowered Funds LLC purchased a new stake in Beacon Financial in the second quarter valued at approximately $11,507,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Beacon Financial Price Performance

BBT stock traded up $0.87 during trading on Monday, hitting $31.49. The stock had a trading volume of 112,859 shares, compared to its average volume of 860,358. The company’s 50-day moving average price is $29.57 and its two-hundred day moving average price is $29.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.98 and a quick ratio of 1.00. The stock has a market capitalization of $2.64 billion, a P/E ratio of 11.70 and a beta of 0.61. Beacon Financial has a twelve month low of $24.06 and a twelve month high of $32.83.

Beacon Financial (NYSE:BBT) last released its earnings results on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Beacon Financial had a return on equity of 10.09% and a net margin of 17.33%. The business had revenue of $222.60 million during the quarter. As a group, research analysts predict that Beacon Financial will post 3.00 EPS for the current fiscal year.

Beacon Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 6th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 4.1%. Beacon Financial’s dividend payout ratio (DPR) is currently 47.96%.

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.