UBS Group AG Takes $18.82 Million Position in Beacon Financial Corporation $BBT

UBS Group AG acquired a new stake in Beacon Financial Corporation (NYSE:BBT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 713,489 shares of the company's stock, valued at approximately $18,815,000. UBS Group AG owned about 0.85% of Beacon Financial at the end of the most recent quarter.Your Comprehensive Guide to Investing in Bank StocksA number of other large investors have also recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in Beacon Financial during the fourth quarter valued at about $35,000. NBT Bank N A NY bought a new stake in shares of Beacon Financial during the 4th quarter worth about $36,000. Brown Lisle Cummings Inc. acquired a new position in shares of Beacon Financial during the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC acquired a new position in shares of Beacon Financial during the 4th quarter valued at about $59,000. Finally, Blue Trust Inc. bought a new position in shares of Beacon Financial in the 4th quarter valued at approximately $76,000. 83.07% of the stock is currently owned by institutional investors. Get Beacon Financial alerts:Wall Street Analysts Forecast GrowthA number of brokerages have issued reports on BBT. Piper Sandler decreased their target price on Beacon Financial from $35.00 to $33.00 and set an "overweight" rating for the company in a research report on Monday, May 4th. Keefe, Bruyette & Woods reduced their price objective 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. Royal Bank Of Canada decreased their price objective on shares of Beacon Financial from $33.00 to $31.00 and set a "sector perform" rating for the company in a report on Friday, May 1st. Raymond James Financial lowered shares of Beacon Financial from a "strong-buy" rating to a "market perform" rating in a research note on Friday, May 1st. Finally, Hovde Group reiterated a "market perform" rating and issued a $30.00 target price (down from $33.00) on shares of Beacon Financial in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Beacon Financial currently has an average rating of "Hold" and a consensus target price of $31.75.View Our Latest Research Report on BBTInsider ActivityIn other news, insider Michael W. Mccurdy sold 17,333 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $31.04, for a total transaction of $538,016.32. Following the sale, the insider directly owned 25,555 shares in the company, valued at approximately $793,227.20. The trade was a 40.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.09% of the company's stock. Beacon Financial Trading Down 1.0%Shares of BBT stock opened at $28.64 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Beacon Financial Corporation has a 1 year low of $22.81 and a 1 year high of $32.83. The firm's fifty day simple moving average is $30.11 and its 200 day simple moving average is $28.19. The firm has a market capitalization of $2.41 billion, a P/E ratio of 23.67 and a beta of 0.55. Beacon Financial (NYSE:BBT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.13). Beacon Financial had a net margin of 6.97% and a return on equity of 9.02%. The company had revenue of $214.72 million for the quarter. As a group, sell-side analysts predict that Beacon Financial Corporation will post 3.13 EPS for the current year. Beacon Financial Announces DividendThe company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. Beacon Financial's dividend payout ratio (DPR) is presently 106.61%. Beacon Financial declared that its Board of Directors has initiated a share repurchase plan on Wednesday, April 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued. About Beacon Financial (Free Report)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.Featured ArticlesFive stocks we like better than Beacon FinancialSell in May and Go Away—Starting With These 3 StocksBefore the Moon Base Gets Built, These 4 Companies WinIndustrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases3 Stocks That Win If Inflation Surprises to the DownsideThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Beacon Financial Right Now?Before you consider Beacon Financial, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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