Thompson Siegel & Walmsley LLC Acquires Shares of 261,325 Beacon Financial Corporation $BBT

Thompson Siegel & Walmsley LLC acquired a new stake in shares of Beacon Financial Corporation (NYSE:BBT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 261,325 shares of the company’s stock, valued at approximately $6,891,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Value Bank Partners LLC acquired a new stake in Beacon Financial during the 4th quarter valued at approximately $16,448,000. Comerica Bank acquired a new stake in Beacon Financial during the 4th quarter valued at approximately $1,867,000. Jefferies Financial Group Inc. acquired a new position in shares of Beacon Financial in the 4th quarter valued at $3,048,000. UBS Group AG acquired a new position in shares of Beacon Financial in the 4th quarter valued at $18,815,000. Finally, Grace & White Inc. NY acquired a new position in shares of Beacon Financial in the 4th quarter valued at $4,914,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Beacon Financial Price Performance

Shares of NYSE BBT opened at $28.54 on Tuesday. The firm has a market cap of $2.39 billion, a PE ratio of 23.59 and a beta of 0.56. The firm has a fifty day moving average of $29.90 and a 200 day moving average of $28.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.01 and a current ratio of 1.01. Beacon Financial Corporation has a one year low of $22.81 and a one year high of $32.83.

Beacon Financial (NYSE:BBT) last released its earnings results on Wednesday, April 29th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.13). Beacon Financial had a return on equity of 9.02% and a net margin of 6.97%.The business had revenue of $214.72 million for the quarter. As a group, research analysts predict that Beacon Financial Corporation will post 3.13 EPS for the current fiscal year.

Beacon Financial declared that its board has approved a stock buyback plan on Wednesday, April 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Beacon Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.29 dividend on an annualized basis and a yield of 4.5%. Beacon Financial’s dividend payout ratio is presently 106.61%.

Analyst Ratings Changes

Several equities analysts recently issued reports on BBT shares. Raymond James Financial cut shares of Beacon Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods decreased 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. Zacks Research cut shares of Beacon Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Piper Sandler decreased their target price on shares of Beacon Financial from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.75.

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.