Burke & Herbert Financial Services (NASDAQ:BHRB) Director James Geary II Sells 3,150 Shares

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Geary II sold 3,150 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the transaction, the director directly owned 9,457 shares in the company, valued at $699,156.01. This represents a 24.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Burke & Herbert Financial Services Price Performance

Burke & Herbert Financial Services stock traded down $0.52 during midday trading on Wednesday, reaching $74.12. The company’s stock had a trading volume of 102,143 shares, compared to its average volume of 133,859. Burke & Herbert Financial Services Corp. has a fifty-two week low of $56.39 and a fifty-two week high of $75.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50 day simple moving average is $68.77 and its 200 day simple moving average is $65.98. The firm has a market capitalization of $1.49 billion, a PE ratio of 11.88 and a beta of 0.57.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. The company had revenue of $106.90 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 15.11%. On average, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. Burke & Herbert Financial Services’s payout ratio is currently 35.26%.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter worth approximately $203,000. Bank of America Corp DE grew its position in shares of Burke & Herbert Financial Services by 68.3% in the first quarter. Bank of America Corp DE now owns 32,188 shares of the company’s stock valued at $2,005,000 after purchasing an additional 13,063 shares during the period. Empowered Funds LLC grew its position in shares of Burke & Herbert Financial Services by 46.1% in the first quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock valued at $4,191,000 after purchasing an additional 21,227 shares during the period. Quantinno Capital Management LP increased its stake in Burke & Herbert Financial Services by 13.9% in the first quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock valued at $588,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Burke & Herbert Financial Services by 144.5% during the first quarter. Sei Investments Co. now owns 8,366 shares of the company’s stock worth $521,000 after buying an additional 4,944 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen cut Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.