Alps Advisors Inc. Acquires Shares of 7,410 Burke & Herbert Financial Services Corp. $BHRB

Alps Advisors Inc. bought a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the third quarter, HoldingsChannel.com reports. The firm bought 7,410 shares of the company’s stock, valued at approximately $457,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth $37,000. CWM LLC grew its position in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after acquiring an additional 740 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Burke & Herbert Financial Services by 22.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after acquiring an additional 400 shares during the last quarter. First United Bank & Trust raised its stake in Burke & Herbert Financial Services by 96.3% during the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after acquiring an additional 1,109 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Burke & Herbert Financial Services in the third quarter worth about $160,000.

Burke & Herbert Financial Services Trading Down 0.4%

BHRB opened at $68.24 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $70.90. The company’s 50 day moving average price is $65.71 and its two-hundred day moving average price is $62.86. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.84 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The company had revenue of $86.56 million for the quarter, compared to analyst estimates of $80.72 million. As a group, research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is 28.50%.

Wall Street Analyst Weigh In

BHRB has been the topic of several research reports. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.50.

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.