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

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

Beacon Financial has increased its dividend by an average of 0.0%annually over the last three years. Beacon Financial has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Research 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 Down 0.7%

BBT stock opened at $29.74 on Thursday. The stock has a market capitalization of $2.49 billion, a P/E ratio of 24.58 and a beta of 0.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. Beacon Financial has a 1-year low of $22.81 and a 1-year high of $32.83. The business has a fifty day moving average price of $29.83 and a 200-day moving average price of $29.73.

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

Beacon Financial announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 29th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

About Beacon Financial

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.