Heritage Wealth Advisors Significantly Increases Shareholding in Blue Ridge Bankshares, Inc (NASDAQ:BRBS) – Should Investors Beware?

Financial Advisors


In today’s financial environment, acquiring additional shares in publicly traded companies is common. But a recent report, which Heritage Wealth Advisors filed with the U.S. Securities and Exchange Commission on May 1, 2023, raises eyebrows. They significantly increased his holding of Blue Ridge Bankshares, Inc (NASDAQ: BRBS) by as much as 1,760.7% in the fourth quarter, according to filings.

The acquisition brings together an impressive holding of 149,730 shares worth $1,870,000 as of Heritage Wealth Advisors’ most recent SEC filing. Blue Ridge Bankshares is a bank holding company that provides a variety of commercial and consumer banking services, including mortgage banking and other financial services.

The Commercial Banking segment provides loans and generates deposits from individuals and businesses. The Mortgage Banking segment primarily deals with mortgage origination activities such as loan underwriting and asset servicing. The Holding Company segment includes all operating expenses of the parent company.

Despite this tremendous increase in Heritage Wealth Advisors stock holdings, NASDAQ:BRBS shares rose by only $0.08 in intraday trading on Friday. About 2,424 shares were exchanged, reaching $10.02 per share.

Investors may find this development intriguing, but given several key factors surrounding current share price performance, caution should be exercised before making any material decision regarding an investment in Blue Ridge Bankshares. is needed.

BRBS had a 52-week high of $16.16 and a low of $9.20, indicating potential for future growth. Currently, an average of approximately 27,286 shares are traded daily.

Additionally, with a PER of 6.52 and a beta of just 0.31, well below average, it may indicate a lower level of volatility to market returns experienced compared to industry peers. there is.

In conclusion, this recent development may indicate growth potential within Blue Ridge Bankshares. However, investors should exercise caution and conduct a thorough market analysis before making any significant investment decisions. However, it remains to be seen whether the acquisition of additional shares by Heritage Wealth Advisors will have a positive or negative impact on the company’s future results in the long term.

Blue Ridge Bankshares sees significant growth in investor holdings in the first quarter of 2023


Blue Ridge Bankshares Sees Significant Increase in Holdings by Major Investors

Blue Ridge Bankshares, Inc experienced a significant increase in major investor holdings in the first quarter of 2023. Captrust Financial Advisors increased its holdings by 603.7%, while JPMorgan Chase & Co. increased its holdings by 11.9%. Goldman Sachs Group Inc. also acquired a new position in the bank holding company worth $152,000, increasing his stake in MetLife Investment Management LLC by 57%.

The New York State Common Retirement Fund also increased its stock by 97.9% in the third quarter. Institutional investors and hedge funds currently own a combined 37.02% of the company’s shares.

TheStreet recently downgraded Blue Ridge Bankshares from ‘b-‘ to ‘c+’ in February 2023.

Blue Ridge Bankshares operates as a bank holding company providing commercial and consumer banking and financial services through its Commercial Banking, Mortgage Banking and Holding Company segments.

In addition to recent investment growth, Blue Ridge Bankshares reported earnings of $0.33 per share in the first quarter, with total earnings of $39.8 million.

The bank holding company also announced a quarterly dividend payable on April 28 to registered shareholders on April 18 with an annual yield of 4.88%.

With this significant increase in investor holdings and strong performance, how Blue Ridge Bankshares continues to perform over the next few quarters and other developments will determine the company’s financial future. It would be interesting to see what could affect the .



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