43,156 Shares in Burke & Herbert Financial Services Corp. $BHRB Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC bought a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,156 shares of the company’s stock, valued at approximately $3,101,000. Pinnacle Holdings LLC owned approximately 0.21% of Burke & Herbert Financial Services at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP boosted its stake in shares of Burke & Herbert Financial Services by 8.1% during the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after buying an additional 292 shares during the last quarter. Rhumbline Advisers increased its position 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 acquiring an additional 298 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 acquiring an additional 319 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter worth about $30,000. Finally, Swiss National Bank raised its holdings in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Swiss National Bank now owns 26,600 shares of the company’s stock worth $1,657,000 after acquiring an additional 500 shares in the last quarter.

Burke & Herbert Financial Services Price Performance

Shares of BHRB opened at $71.55 on Monday. Burke & Herbert Financial Services Corp. has a 52 week low of $57.42 and a 52 week high of $75.08. The firm has a market cap of $1.44 billion, a P/E ratio of 11.47 and a beta of 0.57. The firm’s 50-day simple moving average is $70.93 and its 200 day simple moving average is $66.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 35.26%.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director James Mason Burke sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the transaction, the director owned 258,480 shares in the company, valued at $18,876,794.40. This represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $62.76 per share, for a total transaction of $313,800.00. Following the completion of the acquisition, the director directly owned 26,580 shares of the company’s stock, valued at approximately $1,668,160.80. This trade represents a 23.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 6,369 shares of company stock worth $414,547 and have sold 5,650 shares worth $416,094. 11.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of analyst reports. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings raised Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Keefe, Bruyette & Woods raised their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Burke & Herbert Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $75.25.

Burke & Herbert Financial Services Company 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.