Truist Financial Corp Purchases New Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Truist Financial Corp purchased a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,451 shares of the company’s stock, valued at approximately $340,000.

Several other large investors have also recently bought and sold shares of BHRB. Quantbot Technologies LP acquired a new position in Burke & Herbert Financial Services during the third quarter valued at approximately $118,000. SG Americas Securities LLC raised its stake in Burke & Herbert Financial Services by 49.8% in the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock valued at $473,000 after buying an additional 2,524 shares during the period. Quest Partners LLC bought a new stake in Burke & Herbert Financial Services in the third quarter valued at approximately $478,000. Virtu Financial LLC bought a new stake in Burke & Herbert Financial Services in the third quarter valued at approximately $526,000. Finally, Mittelman Wealth Management bought a new stake in Burke & Herbert Financial Services in the third quarter valued at approximately $659,000.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $79.00 to $76.00 in a research note on Monday, January 27th.

Insider Buying and Selling

In related news, Director Gary L. Hinkle purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $64.48 per share, with a total value of $64,480.00. Following the completion of the transaction, the director now directly owns 244,355 shares of the company’s stock, valued at $15,756,010.40. This represents a 0.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $61.75 per share, for a total transaction of $123,500.00. Following the transaction, the director now directly owns 197,939 shares of the company’s stock, valued at $12,222,733.25. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 17,750 shares of company stock valued at $1,147,932 over the last 90 days. 9.65% of the stock is owned by corporate insiders.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $61.29 on Wednesday. The firm has a market cap of $917.39 million and a P/E ratio of 25.54. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The business’s 50 day moving average is $62.42 and its 200-day moving average is $64.22.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Equities research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.59%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 91.67%.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.