Strategic Value Bank Partners LLC Takes Position in Beacon Financial Corporation $BBT

Strategic Value Bank Partners LLC purchased a new stake in shares of Beacon Financial Corporation (NYSE:BBT) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 623,747 shares of the company’s stock, valued at approximately $16,448,000. Beacon Financial makes up 11.3% of Strategic Value Bank Partners LLC’s investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds have also recently made changes to their positions in BBT. Trust Co. of Vermont purchased a new position in shares of Beacon Financial during the 4th quarter valued at $35,000. NBT Bank N A NY purchased a new position in shares of Beacon Financial during the 4th quarter valued at $36,000. Brown Lisle Cummings Inc. purchased a new position in shares of Beacon Financial during the 4th quarter valued at $50,000. Nisa Investment Advisors LLC purchased a new position in shares of Beacon Financial during the 4th quarter valued at $59,000. Finally, Blue Trust Inc. purchased a new position in shares of Beacon Financial during the 4th quarter valued at $76,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Beacon Financial Stock Up 2.2%

Shares of NYSE:BBT opened at $32.32 on Friday. Beacon Financial Corporation has a 52-week low of $22.81 and a 52-week high of $32.83. The firm has a fifty day moving average of $30.28 and a 200 day moving average of $27.68. The firm has a market capitalization of $2.72 billion, a PE ratio of 26.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.00 and a current ratio of 1.00.

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

Insider Transactions at Beacon Financial

In related news, insider Michael W. Mccurdy sold 17,333 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $31.04, for a total value of $538,016.32. Following the completion of the transaction, the insider directly owned 25,555 shares in the company, valued at approximately $793,227.20. The trade was a 40.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Beacon Financial from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Hovde Group boosted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada boosted their price target on shares of Beacon Financial from $28.00 to $31.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Beacon Financial presently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

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.