3,962 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Bought by Truist Financial Corp

Truist Financial Corp bought a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the 2nd quarter, Holdings Channel reports. The fund bought 3,962 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at approximately $18,137,000. Burke & Herbert Bank & Trust Co. boosted its position in shares of Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after acquiring an additional 103,527 shares during the period. American Century Companies Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter worth $3,091,000. Renaissance Technologies LLC acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter worth $2,827,000. Finally, Verdence Capital Advisors LLC bought a new position in Burke & Herbert Financial Services during the second quarter worth $2,218,000.

Analysts Set New Price Targets

Several analysts have issued reports on BHRB shares. Keefe, Bruyette & Woods raised their price target on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday. They issued a “buy” rating and a $76.00 target price for the company.

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock opened at $63.73 on Friday. The firm has a market cap of $946.26 million and a P/E ratio of 7.58. The firm’s 50-day simple moving average is $62.78 and its 200-day simple moving average is $56.46. Burke & Herbert Financial Services Corp. has a twelve month low of $42.91 and a twelve month high of $70.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%. The company had revenue of $69.27 million for the quarter.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 25.21%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.65% of the stock is currently owned by insiders.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.