The EPS miss and rising credit stress (NPAs at 0.75%, provision up 78% QoQ) are the dominant signals despite the NIM expansion and buyback increase. Monitor the Oct 22 conference call for commentary on loan growth trajectory and expense discipline; the stock may trade down on the miss but find support from the buyback authorization.
Price Chart
Executive Summary
Beacon Financial Corp reported Q3 2026 GAAP EPS of $0.73, missing the consensus estimate of $0.77 by 5.2%, while operating EPS (non-GAAP) of $0.77 matched consensus. Net interest income improved to $197.2M and net interest margin expanded to 3.85%, but credit quality deteriorated with nonperforming assets rising to $163.1M (0.75% of total assets). The board increased the stock buyback authorization to $125 million, signaling confidence, but the EPS miss and rising NPAs temper the positive capital return news.
Key Financial Metrics
Key Facts
- GAAP net income of $61.2M, EPS $0.73 vs consensus $0.77 (miss of 5.2%)
- Operating EPS (non-GAAP) of $0.77 matched consensus of $0.77
- Net interest income rose $3.9M QoQ to $197.2M; NIM expanded 4 bps to 3.85%
- Nonperforming assets increased $7.9M to $163.1M (0.75% of total assets vs 0.70% prior quarter)
- Provision for credit losses increased to $8.9M from $5.0M in Q2 2026
- Board increased stock buyback authorization to $125 million from $50 million
- Quarterly dividend maintained at $0.3225 per share
- Total loans declined $169.8M to $17.7B; total deposits declined $303.3M to $18.2B
- Tangible book value per share decreased $0.17 to $23.81
Financial Impact
GAAP EPS miss of $0.04 vs consensus ($0.77 consensus vs $0.73 actual); $8.9M provision vs $5.0M prior quarter; $125M buyback authorization increase
Risk Factors
- Further credit deterioration in CRE office and industrial portfolios (NPAs up 7.9M QoQ)
- Continued loan shrinkage (loans down $170M QoQ)
- Deposit outflows (customer deposits down $120M excluding payroll/brokered)
- Execution risk on new CEO's expense discipline and efficiency goals
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-006743 |
| Exhibit: exh_992.htm | 0001171843-26-006743 |
| Document: f8k_102126.htm | 0001171843-26-006743 |
| Document: 0001171843-26-006743-index-headers.html | 0001171843-26-006743 |
| Document: 0001171843-26-006743-index.html | 0001171843-26-006743 |
| Document: 0001171843-26-006743.txt | 0001171843-26-006743 |
| 8-K Data (Synthetic) | 0001171843-26-006743 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | $30.89 | awaiting T+1 | — | $30.86 (−0.10%) |
Oct 23, 2026 3d ago | SC 13G/A | $30.07 | awaiting T+1 | — | $30.86 (−2.63%) |
Oct 21, 2026 5d ago | 8-K | $29.95 $30.07 | ▲ +0.40% | ▲ +0.92% | $30.86 (+3.04%) |
Oct 21, 2026 5d ago | Press Release | $29.95 $30.07 | ▼ −0.40% | ▼ −0.92% | $30.86 (−3.04%) |
Sep 30, 2026 26d ago | Press Release | $27.99 | awaiting T+1 | — | $30.86 (+10.25%) |
Sep 29, 2026 27d ago | 8-K | $27.99 $28.10 | ▲ +0.39% | ▲ +0.21% | $30.86 (+10.25%) |
Sep 21, 2026 5w ago | 8-K | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.86 (+7.34%) |
Sep 21, 2026 5w ago | Press Release | $28.75 $28.42 | ▼ −1.15% | ▼ −1.13% | $30.86 (+7.34%) |
Aug 17, 2026 10w ago | 424B5 | $32.61 $32.50 | ▼ −0.34% | ▲ +0.34% | $30.86 (−5.37%) |
Aug 15, 2026 10w ago | Institutional Cluster | $32.61 $32.50 | ▼ −0.34% | ▲ +0.34% | $30.86 (−5.37%) |
US Market Status
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