Beacon Financial Corporation (NYSE:BBT) Receives $33.25 Consensus PT from Brokerages

Beacon Financial Corporation (NYSE:BBT) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $33.25.

Several analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Beacon Financial from $28.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price target on Beacon Financial from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Hovde Group boosted their price target on Beacon Financial from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Piper Sandler assumed coverage on Beacon Financial in a report on Monday, March 16th. They set an “overweight” rating and a $33.00 price target for the company. Finally, Weiss Ratings raised Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 18th.

Beacon Financial Price Performance

Shares of Beacon Financial stock opened at $31.82 on Thursday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 26.08 and a beta of 0.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 1.00. Beacon Financial has a one year low of $22.41 and a one year high of $32.31. The business’s 50 day simple moving average is $30.07 and its two-hundred day simple moving average is $27.48.

Beacon Financial (NYSE:BBT) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $0.79 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 the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $31.04, for a total transaction of $538,016.32. Following the completion of the sale, the insider owned 25,555 shares of the company’s stock, valued at approximately $793,227.20. The trade was a 40.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Beacon Financial

Several hedge funds have recently bought and sold shares of the stock. Montag A & Associates Inc. bought a new stake in Beacon Financial during the fourth quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Beacon Financial in the fourth quarter worth about $30,000. TD Private Client Wealth LLC bought a new position in shares of Beacon Financial in the fourth quarter worth about $32,000. Rockefeller Capital Management L.P. bought a new position in shares of Beacon Financial in the fourth quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Beacon Financial in the fourth quarter worth about $34,000. Institutional investors own 83.07% of the company’s stock.

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.