Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $109,545.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Mason Burke sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total value of $109,545.00. Following the sale, the director directly owned 258,480 shares of the company’s stock, valued at $18,876,794.40. This represents a 0.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $73.15 on Friday. Burke & Herbert Financial Services Corp. has a one year low of $57.42 and a one year high of $75.08. The company has a market cap of $1.48 billion, a P/E ratio of 11.72 and a beta of 0.57. The firm’s fifty day moving average price is $70.37 and its two-hundred day moving average price is $66.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.05. The company had revenue of $106.89 million for the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. Equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 35.26%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter valued at $30,000. Aquatic Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth $117,000. Stonebridge Financial Group LLC bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $203,000. Tower Research Capital LLC TRC boosted its stake in Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after buying an additional 2,898 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at about $204,000.

Analyst Ratings Changes

BHRB has been the topic of several recent research reports. Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Burke & Herbert Financial Services presently has an average rating of “Moderate Buy” and an average price target of $75.25.

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.