Verition Fund Management Reduces $8M in Beacon Financial Corporation ($BBT)
Key Points
- Verition Fund Management changed its Beacon Financial Corporation ($BBT) stake by 11.3% last quarter, cutting to 2,015,022 shares worth $61.36 million.
- $BBT last traded around $30.45.
Verition Fund Management reduced its position in Beacon Financial Corporation ($BBT) by 11.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,015,022 shares of Beacon Financial Corporation after selling 255,460 shares during the quarter. Verition Fund Management's holdings in Beacon Financial Corporation were worth $61.36 million as of its most recent filing.
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About Beacon Financial Corporation
Beacon Financial Corporation operates as the bank holding company for Beacon Bank & Trust that provides various banking services in the United States and internationally. The company accepts commercial, municipal, and retail deposits. It originates mortgage loans on commercial and residential real estate, as well as commercial loans and leases. It is also involved in investment in debt and equity securities; and offers cash management, trust, and investment advisory services. In addition, the company provides specialty equipment financing and SBA lending, and online and mobile banking services, as well as wealth management services to individuals, families, endowments, and foundations. Beacon Financial Corporation was founded in 1846 and is headquartered in Boston, Massachusetts.
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