96,453 Shares in Beacon Financial Corporation $BBT Bought by Deutsche Bank AG

Deutsche Bank AG bought a new stake in Beacon Financial Corporation (NYSE:BBT) during the second quarter, according to its most recent filing with the SEC. The firm bought 96,453 shares of the company’s stock, valued at approximately $2,937,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Beacon Financial by 11.2% in the first quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock valued at $97,000 after purchasing an additional 325 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Beacon Financial by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock worth $446,000 after purchasing an additional 354 shares during the period. Montag A & Associates Inc. acquired a new position in shares of Beacon Financial during the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Beacon Financial during the 4th quarter valued at approximately $30,000. Finally, TD Private Client Wealth LLC bought a new stake in Beacon Financial during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Beacon Financial Stock Performance

BBT opened at $31.69 on Thursday. The stock’s 50 day simple moving average is $30.85 and its 200-day simple moving average is $30.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.66 billion, a PE ratio of 24.01 and a beta of 0.55. Beacon Financial Corporation has a 1 year low of $22.81 and a 1 year high of $32.83.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $219.19 million for the quarter. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. Sell-side analysts forecast that Beacon Financial Corporation will post 3.04 EPS for the current year.

Beacon Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.3225 per share. The ex-dividend date is Friday, August 14th. This represents a $1.29 dividend on an annualized basis and a yield of 4.1%. Beacon Financial’s dividend payout ratio (DPR) is currently 97.73%.

Beacon Financial declared that its board has approved a stock buyback program on Wednesday, April 29th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Beacon Financial in a report on Tuesday, July 14th. Raymond James Financial downgraded shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 1st. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, July 3rd. 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, Royal Bank Of Canada cut their target price on shares of Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating for the company in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Beacon Financial presently has an average rating of “Hold” and an average target price 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.