Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,548 shares of the company’s stock after buying an additional 341 shares during the period. Rhumbline Advisers’ holdings in Burke & Herbert Financial Services were worth $1,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Barclays PLC increased its position in Burke & Herbert Financial Services by 204.0% during the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock valued at $1,357,000 after buying an additional 14,915 shares in the last quarter. State Street Corp increased its holdings in shares of 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 acquiring an additional 26,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Burke & Herbert Financial Services during the third quarter valued at about $1,005,000. Geode Capital Management LLC raised its position in shares of Burke & Herbert Financial Services by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake 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 in the last quarter.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $61.06 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a 50-day moving average of $62.36 and a two-hundred day moving average of $64.19. The stock has a market cap of $913.95 million and a P/E ratio of 25.44. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, January 24th. The company reported $1.77 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%. As a group, research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 91.67%.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle purchased 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $64.97 per share, with a total value of $194,910.00. Following the completion of the acquisition, the director now owns 248,459 shares of the company’s stock, valued at $16,142,381.23. The trade was a 1.22 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $63.75 per share, for a total transaction of $318,750.00. Following the transaction, the director now owns 187,939 shares in the company, valued at approximately $11,981,111.25. This represents a 2.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 17,555 shares of company stock worth $1,134,379 over the last 90 days. 9.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $79.00 to $76.00 in a research note on Monday, January 27th.

About Burke & Herbert Financial Services

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.