AlphaQuest LLC Sells 4,953 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

AlphaQuest LLC lowered its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 63.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,890 shares of the company’s stock after selling 4,953 shares during the quarter. AlphaQuest LLC’s holdings in Burke & Herbert Financial Services were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $274,000. Verdence Capital Advisors LLC lifted its position in shares of Burke & Herbert Financial Services by 32.8% during the 4th quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company’s stock worth $4,264,000 after buying an additional 16,884 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Burke & Herbert Financial Services by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock worth $6,894,000 after buying an additional 2,078 shares in the last quarter. Truist Financial Corp bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $340,000. Finally, Rhumbline Advisers raised its holdings in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Rhumbline Advisers now owns 18,548 shares of the company’s stock worth $1,157,000 after purchasing an additional 341 shares during the period.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $58.38 per share, for a total transaction of $66,553.20. Following the completion of the transaction, the director now directly owns 91,361 shares in the company, valued at approximately $5,333,655.18. The trade was a 1.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary L. Hinkle purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $64.48 per share, for a total transaction of $64,480.00. Following the acquisition, the director now owns 244,355 shares of the company’s stock, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,140 shares of company stock worth $1,195,743 over the last 90 days. Corporate insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Trading Up 0.9 %

NASDAQ:BHRB opened at $58.74 on Monday. 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 market capitalization of $879.22 million and a PE ratio of 24.48. The firm’s 50 day moving average is $61.90 and its 200 day moving average is $63.90. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

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

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.75%. Burke & Herbert Financial Services’s dividend payout ratio is currently 91.67%.

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.