Beacon Financial Corporation (NYSE:BBT) Declares $0.32 Quarterly Dividend

Beacon Financial Corporation (NYSE:BBT) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.3225 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, August 14th.

Beacon Financial has raised its dividend payment by an average of 0.0%annually over the last three years. Beacon Financial has a payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Beacon Financial to earn $3.45 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 37.4%.

Beacon Financial Stock Performance

Shares of Beacon Financial stock opened at $29.74 on Thursday. The business’s fifty day simple moving average is $29.83 and its 200-day simple moving average is $29.73. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The firm has a market cap of $2.49 billion, a PE ratio of 24.58 and a beta of 0.55.

Beacon Financial (NYSE:BBT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $219.19 million for the quarter. Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. Equities analysts forecast that Beacon Financial will post 3.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BBT has been the subject of several recent research reports. Zacks Research upgraded shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Raymond James Financial cut shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, May 1st. Piper Sandler boosted their price objective on Beacon Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Beacon Financial in a research report on Tuesday, July 14th. Finally, Hovde Group reaffirmed a “market perform” rating and issued a $30.00 price objective (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Beacon Financial currently has an average rating of “Hold” and a consensus price target of $32.00.

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.