Thrivent Financial for Lutherans Sells 11,061 Shares of Burke & Herbert Financial Services Corp. $BHRB

Thrivent Financial for Lutherans trimmed its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 45.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,352 shares of the company’s stock after selling 11,061 shares during the quarter. Thrivent Financial for Lutherans owned 0.09% of Burke & Herbert Financial Services worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Modera Wealth Management LLC lifted its position in shares of Burke & Herbert Financial Services by 16.1% during the 3rd quarter. Modera Wealth Management LLC now owns 7,200 shares of the company’s stock worth $444,000 after buying an additional 1,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at $386,000. Teacher Retirement System of Texas acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at $835,000. Strs Ohio bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth about $160,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Burke & Herbert Financial Services by 104.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,502 shares of the company’s stock worth $813,000 after purchasing an additional 6,902 shares in the last quarter.

Wall Street Analyst Weigh In

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

Burke & Herbert Financial Services Price Performance

Shares of BHRB stock opened at $68.24 on Monday. Burke & Herbert Financial Services Corp. has a 1 year low of $47.57 and a 1 year high of $70.90. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $65.71 and its 200-day moving average is $62.90. 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 earnings per share for the quarter, beating 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 business had revenue of $86.56 million during the quarter, compared to analyst estimates of $80.72 million. Sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

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

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.