Beacon Financial Corporation (NYSE:BBT) Shares Set to Pay Quarterly Dividend of $0.32
by Danessa Lincoln · The Markets DailyBeacon Financial Corporation (NYSE:BBT – Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Friday, November 6th will be paid a dividend of $0.3225 per share on Friday, November 20th. This represents a $1.29 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend 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 Stock Up 3.8%
Shares of Beacon Financial stock traded up $1.07 during midday trading on Thursday, reaching $29.07. 328,470 shares of the company’s stock traded hands, compared to its average volume of 842,935. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 22.12 and a beta of 0.60. Beacon Financial has a 52 week low of $22.81 and a 52 week high of $32.83. The company’s 50 day simple moving average is $29.81 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 – Get Free Report) last posted its earnings results 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). Beacon Financial had a net margin of 8.96% and a return on equity of 9.15%. The company had revenue of $222.60 million for the quarter. Equities analysts expect that Beacon Financial will post 3.04 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BBT has been the topic of a number of recent analyst reports. Zacks Research raised Beacon Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, July 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Beacon Financial in a research report on Monday, August 3rd. Royal Bank Of Canada lowered their price target on Beacon Financial from $33.00 to $31.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Finally, Weiss Ratings raised shares of Beacon Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.50.
Check Out Our Latest Report on Beacon Financial
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.