Truist Financial Corp Invests $340,000 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 - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,451 shares of the company's stock, valued at approximately $340,000.

A number of other institutional investors also recently bought and sold shares of BHRB. Quantbot Technologies LP bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth about $118,000. SG Americas Securities LLC lifted its stake in shares of Burke & Herbert Financial Services by 49.8% during the 4th quarter. SG Americas Securities LLC now owns 7,591 shares of the company's stock worth $473,000 after acquiring an additional 2,524 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth approximately $478,000. Virtu Financial LLC bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth approximately $526,000. Finally, Mittelman Wealth Management bought a new stake in shares of Burke & Herbert Financial Services during the third quarter worth $659,000.

Burke & Herbert Financial Services Stock Up 0.2 %

NASDAQ BHRB traded up $0.15 on Friday, reaching $60.29. 76,270 shares of the stock traded hands, compared to its average volume of 59,943. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average price of $62.24 and a 200-day moving average price of $64.15. The company has a market cap of $902.42 million and a price-to-earnings ratio of 25.12. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

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Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting 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%. As a group, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.65%. Burke & Herbert Financial Services's dividend payout ratio is currently 91.67%.

Insider Buying and Selling

In related news, Director Shawn Patrick Mclaughlin purchased 555 shares of the business's stock in a transaction on Monday, December 9th. The shares were acquired at an average price of $69.35 per share, for a total transaction of $38,489.25. Following the purchase, the director now owns 61,000 shares of the company's stock, valued at $4,230,350. This trade represents a 0.92 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the purchase, the director now directly owns 182,939 shares in the company, valued at $12,577,056.25. This represents a 1.67 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 19,555 shares of company stock valued at $1,255,379 over the last 90 days. Corporate insiders own 9.65% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $79.00 to $76.00 in a report on Monday, January 27th.

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.