Truist Financial Corp Acquires New Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

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

Other hedge funds also recently modified their holdings of the company. Barclays PLC raised its position in Burke & Herbert Financial Services by 204.0% during the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after purchasing an additional 14,915 shares during the last quarter. State Street Corp raised its position in Burke & Herbert Financial Services by 9.9% during the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after purchasing an additional 26,191 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Burke & Herbert Financial Services during the 3rd quarter worth $1,005,000. Geode Capital Management LLC raised its position in Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after purchasing an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Burke & Herbert Financial Services by 481.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,490 shares during the last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $79.00 to $76.00 in a research report on Monday, January 27th.

Burke & Herbert Financial Services Stock Down 3.0 %

Shares of NASDAQ:BHRB opened at $61.29 on Wednesday. The business has a fifty day simple moving average of $62.42 and a 200 day simple moving average of $64.22. Burke & Herbert Financial Services Corp. has a 12-month low of $46.00 and a 12-month high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $917.39 million and a P/E ratio of 25.54.

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

Burke & Herbert Financial Services Announces Dividend

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

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $68.75 per share, with a total value of $206,250.00. Following the transaction, the director now directly owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. This represents a 1.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shawn Patrick Mclaughlin bought 555 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $69.35 per share, with a total value of $38,489.25. Following the completion of the transaction, the director now directly owns 61,000 shares in the company, valued at $4,230,350. This represents a 0.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 17,750 shares of company stock valued at $1,147,932. Corporate insiders own 9.65% of the company’s stock.

About Burke & Herbert Financial Services

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.