Insider Buying: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Acquires 5,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $63.05 per share, for a total transaction of $315,250.00. Following the purchase, the director directly owned 208,939 shares of the company’s stock, valued at $13,173,603.95. This represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Burke & Herbert Financial Services Stock Down 0.6%

NASDAQ BHRB traded down $0.40 on Tuesday, hitting $62.67. 89,494 shares of the stock traded hands, compared to its average volume of 103,441. The stock has a 50-day moving average of $63.48 and a 200 day moving average of $64.20. Burke & Herbert Financial Services Corp. has a twelve month low of $54.45 and a twelve month high of $70.90. The company has a market capitalization of $943.11 million, a P/E ratio of 8.13 and a beta of 0.74. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.87. Burke & Herbert Financial Services had a return on equity of 14.66% and a net margin of 24.04%.The firm had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $86.50 million. As a group, analysts expect that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. Burke & Herbert Financial Services’s dividend payout ratio is 28.53%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BHRB. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a report on Wednesday, February 25th. DA Davidson reissued a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Freedom Capital lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Friday. Finally, Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Burke & Herbert Financial Services currently has an average rating of “Hold” and a consensus price target of $71.40.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP lifted its holdings in shares of Burke & Herbert Financial Services by 8.1% in the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after purchasing an additional 292 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Burke & Herbert Financial Services by 1.7% in the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after purchasing an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Burke & Herbert Financial Services by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after purchasing an additional 319 shares in the last quarter. EJF Capital LLC lifted its holdings in shares of Burke & Herbert Financial Services by 0.9% in the third quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock valued at $3,075,000 after purchasing an additional 448 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at $30,000.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.