Yousif Capital Management LLC Takes $616,000 Position in Beacon Financial Corporation $BBT

Yousif Capital Management LLC purchased a new position in shares of Beacon Financial Corporation (NYSE:BBT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,481 shares of the company’s stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BBT. Parsons Capital Management Inc. RI acquired a new position in Beacon Financial during the fourth quarter worth about $736,000. Hennion & Walsh Asset Management Inc. acquired a new position in Beacon Financial during the fourth quarter worth about $339,000. Financial Planning Hawaii Inc. acquired a new position in Beacon Financial during the fourth quarter worth about $274,000. Mayflower Financial Advisors LLC acquired a new position in Beacon Financial during the fourth quarter worth about $204,000. Finally, Blue Trust Inc. acquired a new position in Beacon Financial during the fourth quarter worth about $76,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Beacon Financial Stock Performance

NYSE:BBT opened at $32.32 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 26.49 and a beta of 0.62. The company’s 50-day moving average is $30.28 and its two-hundred day moving average is $27.68. 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 earnings results on Wednesday, January 28th. The company reported $0.79 earnings per share for the quarter, beating 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BBT shares. Royal Bank Of Canada boosted their price target on shares of Beacon Financial from $28.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price target on shares of Beacon Financial from $33.00 to $36.00 and gave the stock an “outperform” 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. Hovde Group boosted their price target on shares of Beacon Financial from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Piper Sandler started coverage on shares of Beacon Financial in a research report on Monday, March 16th. They set an “overweight” rating and a $33.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.25.

Insiders Place Their Bets

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 shares were sold at an average price of $31.04, for a total value of $538,016.32. Following the transaction, the insider directly owned 25,555 shares in the company, valued at $793,227.20. The trade was a 40.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.09% of the stock is owned by 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.