Beacon Financial Corporation (BBT) to Issue Quarterly Dividend of $0.32 on November 20th

Beacon Financial Corporation (NYSE:BBT) declared a quarterly dividend on Wednesday, October 21st. Investors of record on Friday, November 6th will be given a dividend of $0.3225 per share on Friday, November 20th. This represents a $1.29 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, November 6th.

Beacon Financial has a dividend payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Beacon Financial to earn $3.33 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 38.7%.

Beacon Financial Price Performance

NYSE:BBT opened at $29.90 on Friday. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 9.24 and a beta of 0.60. The firm’s 50-day simple moving average is $29.76 and its 200 day simple moving average is $30.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Beacon Financial (NYSE:BBT) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01). The business had revenue of $222.60 million during the quarter. Beacon Financial had a return on equity of 10.10% and a net margin of 17.33%. As a group, sell-side analysts predict that Beacon Financial will post 3.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BBT shares. Zacks Research raised shares of Beacon Financial from a “strong sell” rating to a “hold” rating in a report on Friday, July 3rd. Weiss Ratings upgraded Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 15th. Piper Sandler reiterated 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. Finally, Royal Bank Of Canada reduced their price target on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.50.

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.