Hsbc Holdings PLC Takes $627,000 Position in Burke & Herbert Financial Services Corp. $BHRB

Hsbc Holdings PLC bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,056 shares of the company’s stock, valued at approximately $627,000. Hsbc Holdings PLC owned 0.07% of Burke & Herbert Financial Services as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BHRB. Vanguard Group Inc. grew its holdings in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Burke & Herbert Financial Services by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company’s stock worth $19,814,000 after acquiring an additional 36,027 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 68.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock worth $10,235,000 after purchasing an additional 66,778 shares in the last quarter. Endeavour Capital Advisors Inc. raised its position in Burke & Herbert Financial Services by 22.0% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after acquiring an additional 22,601 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Burke & Herbert Financial Services by 18.6% during the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company’s stock valued at $5,415,000 after purchasing an additional 14,217 shares in the last quarter.

Burke & Herbert Financial Services Stock Up 0.6%

Shares of BHRB opened at $70.76 on Thursday. The business’s 50 day simple moving average is $66.05 and its 200-day simple moving average is $65.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $1.43 billion, a P/E ratio of 9.18 and a beta of 0.58. Burke & Herbert Financial Services Corp. has a one year low of $56.11 and a one year high of $73.69.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. As a group, sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 28.53%.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of Burke & Herbert Financial Services stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the sale, the director owned 2,000 shares of the company’s stock, valued at approximately $126,600. The trade was a 35.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose David Riojas acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $62.00 per share, with a total value of $62,000.00. Following the acquisition, the director directly owned 20,000 shares of the company’s stock, valued at $1,240,000. The trade was a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 12,300 shares of company stock valued at $774,450 in the last three months. Company insiders own 11.99% of the company’s stock.

Wall Street Analyst Weigh In

BHRB has been the topic of a number of recent analyst reports. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. DA Davidson reiterated a “neutral” rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Finally, Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.75.

Burke & Herbert Financial Services Profile

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.