Beacon Financial (NYSE:BBT) Stock Price Target Lowered at Royal Bank Of Canada

Beacon Financial (NYSE:BBT) had its target price decreased by equities research analysts at Royal Bank Of Canada from $33.00 to $31.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 14.16% from the company’s current price.

A number of other brokerages have also issued reports on BBT. Weiss Ratings lowered Beacon Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Zacks Research upgraded Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Beacon Financial in a research note on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Beacon Financial has an average rating of “Hold” and an average target price of $32.50.

Beacon Financial Stock Performance

Shares of BBT stock traded down $0.32 on Friday, hitting $27.16. 210,246 shares of the stock traded hands, compared to its average volume of 844,852. The company’s fifty day moving average is $30.58 and its 200 day moving average is $30.18. Beacon Financial has a 1-year low of $22.81 and a 1-year high of $32.83. The company has a market capitalization of $2.28 billion, a PE ratio of 20.59 and a beta of 0.60. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

Beacon Financial (NYSE:BBT) last issued its earnings results on Wednesday, July 29th. The company reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. The company had revenue of $219.19 million for the quarter. On average, equities research analysts predict that Beacon Financial will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beacon Financial

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Beacon Financial by 11.2% in the 1st quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock valued at $97,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Beacon Financial by 2.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,869 shares of the company’s stock worth $446,000 after purchasing an additional 354 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Beacon Financial in the second quarter valued at about $35,000. Rockefeller Capital Management L.P. bought a new position in shares of Beacon Financial in the fourth quarter valued at approximately $32,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Beacon Financial in the 2nd quarter worth approximately $37,000. 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.