Burke & Herbert Financial Services (NASDAQ:BHRB) Director Buys $313,800.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock in a transaction dated Wednesday, June 3rd. The shares were acquired at an average cost of $62.76 per share, with a total value of $313,800.00. Following the completion of the acquisition, the director directly owned 26,580 shares in the company, valued at $1,668,160.80. This trade represents a 23.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Monday, May 11th, Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock. The shares were acquired at an average cost of $63.05 per share, with a total value of $315,250.00.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $64.49 on Monday. The company has a 50-day moving average of $63.51 and a 200-day moving average of $64.50. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.36 and a beta of 0.69. Burke & Herbert Financial Services Corp. has a 52 week low of $55.40 and a 52 week high of $70.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 EPS for the quarter, hitting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. As a group, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.53%.

Analyst Ratings Changes

BHRB has been the subject of a number of recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $70.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Zacks Research cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Citigroup cut shares of Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Burke & Herbert Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $71.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Burke & Herbert Financial Services by 68.3% in the 1st 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 last quarter. Empowered Funds LLC boosted its stake in shares of Burke & Herbert Financial Services by 46.1% in the 1st 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 last quarter. Quantinno Capital Management LP boosted its stake in shares of Burke & Herbert Financial Services by 13.9% in the 1st 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. Sei Investments Co. boosted its stake in shares of Burke & Herbert Financial Services by 144.5% in the 1st quarter. Sei Investments Co. now owns 8,366 shares of the company’s stock valued at $521,000 after purchasing an additional 4,944 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Burke & Herbert Financial Services by 66.9% in the 1st quarter. First Trust Advisors LP now owns 9,897 shares of the company’s stock valued at $616,000 after purchasing an additional 3,966 shares during the last quarter.

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.