Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys $63,000.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $63.00 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the director now directly owns 62,000 shares in the company, valued at $3,906,000. The trade was a 1.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shawn Patrick Mclaughlin also recently made the following trade(s):

• On Monday, December 9th, Shawn Patrick Mclaughlin bought 555 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $69.35 per share, for a total transaction of $38,489.25.
• On Thursday, December 5th, Shawn Patrick Mclaughlin purchased 195 shares of Burke & Herbert Financial Services stock. The shares were purchased at an average cost of $69.50 per share, with a total value of $13,552.50.

Burke & Herbert Financial Services Trading Down 0.1 %

Shares of BHRB stock opened at $64.31 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 12-month low of $46.00 and a 12-month high of $75.32. The stock has a market capitalization of $962.72 million and a P/E ratio of 26.80. The firm’s 50 day moving average is $64.61 and its 200 day moving average is $64.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Research analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date is Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is currently 91.67%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several institutional investors have recently made changes to their positions in BHRB. Dimensional Fund Advisors LP purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at approximately $18,137,000. Fourthstone LLC grew its position in shares of Burke & Herbert Financial Services by 29.3% during the 3rd quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock valued at $24,250,000 after acquiring an additional 90,151 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock worth $6,616,000 after purchasing an additional 71,105 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Burke & Herbert Financial Services by 481.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,490 shares during the period. Finally, State Street Corp lifted its position in Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on BHRB. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a “buy” rating and a $76.00 target price on the stock. Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $79.00 to $76.00 in a report on Monday, January 27th.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.