Barclays PLC Boosts Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Barclays PLC boosted its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,601 shares of the company’s stock after purchasing an additional 6,376 shares during the quarter. Barclays PLC owned about 0.19% of Burke & Herbert Financial Services worth $1,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BHRB. Sterling Capital Management LLC lifted its position in shares of Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after buying an additional 387 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Burke & Herbert Financial Services in the 4th quarter worth approximately $156,000. Raymond James Financial Inc. purchased a new stake in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $274,000. Intech Investment Management LLC bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter valued at approximately $278,000. Finally, Delphi Management Inc. MA purchased a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at $283,000.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Burke & Herbert Financial Services from $73.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday.

Burke & Herbert Financial Services Trading Up 2.9 %

BHRB opened at $57.39 on Friday. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $55.31 and a 200 day moving average of $61.61. The firm has a market cap of $859.87 million and a P/E ratio of 23.91.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, April 25th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, May 15th. Burke & Herbert Financial Services’s payout ratio is currently 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has initiated a share buyback plan on Friday, April 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $59.75 per share, for a total transaction of $59,750.00. Following the completion of the acquisition, the director now directly owns 83,083 shares of the company’s stock, valued at $4,964,209.25. The trade was a 1.22 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary L. Hinkle purchased 3,000 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $64.97 per share, with a total value of $194,910.00. Following the acquisition, the director now owns 248,459 shares in the company, valued at approximately $16,142,381.23. This represents a 1.22 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 21,140 shares of company stock worth $1,280,263. 10.92% of the stock is currently owned by company insiders.

Burke & Herbert Financial Services 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.