186,349 Shares in Beacon Financial Corporation $BBT Bought by Grace & White Inc. NY

Grace & White Inc. NY purchased a new position in Beacon Financial Corporation (NYSE:BBT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 186,349 shares of the company’s stock, valued at approximately $4,914,000.

A number of other hedge funds also recently modified their holdings of the stock. CWM LLC bought a new position in shares of Beacon Financial in the fourth quarter worth $416,000. Farther Finance Advisors LLC bought a new position in shares of Beacon Financial in the fourth quarter worth $89,000. State of Alaska Department of Revenue bought a new position in shares of Beacon Financial in the fourth quarter worth $1,179,000. Choreo LLC bought a new position in shares of Beacon Financial in the fourth quarter worth $358,000. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Beacon Financial in the fourth quarter worth $50,000. Institutional investors own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BBT. Piper Sandler began coverage on Beacon Financial in a research report on Monday, March 16th. They issued an “overweight” rating and a $33.00 price target on the stock. Royal Bank Of Canada raised their price target on Beacon Financial from $28.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Weiss Ratings upgraded Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 18th. Hovde Group lifted their target price on Beacon Financial from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on Beacon Financial from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Beacon Financial currently has an average rating of “Moderate Buy” and an average target price of $33.25.

Beacon Financial Stock Performance

Beacon Financial stock opened at $31.59 on Friday. Beacon Financial Corporation has a 12-month low of $22.81 and a 12-month high of $32.31. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $30.25 and its two-hundred day moving average price is $27.62. The stock has a market cap of $2.65 billion, a PE ratio of 25.89 and a beta of 0.62.

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

Insider Transactions at Beacon Financial

In other Beacon Financial news, insider Michael W. Mccurdy sold 17,333 shares of Beacon Financial stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $31.04, for a total value of $538,016.32. Following the transaction, the insider owned 25,555 shares in the company, valued at $793,227.20. The trade was a 40.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.09% of the stock is currently owned by corporate insiders.

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.