Corebridge Financial Inc. Sells 509 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Corebridge Financial Inc. decreased its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 7.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,733 shares of the company’s stock after selling 509 shares during the period. Corebridge Financial Inc.’s holdings in Burke & Herbert Financial Services were worth $420,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Burke & Herbert Financial Services by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after acquiring an additional 22,559 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $156,000. American Century Companies Inc. grew its holdings in shares of Burke & Herbert Financial Services by 30.1% during the 4th quarter. American Century Companies Inc. now owns 25,558 shares of the company’s stock valued at $1,594,000 after purchasing an additional 5,917 shares during the last quarter. Intech Investment Management LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter worth approximately $278,000. Finally, Delphi Management Inc. MA bought a new position in Burke & Herbert Financial Services in the 4th quarter valued at approximately $283,000.

Analyst Ratings Changes

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

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $63.75 per share, with a total value of $318,750.00. Following the completion of the purchase, the director now owns 187,939 shares in the company, valued at $11,981,111.25. This represents a 2.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $63.00 per share, for a total transaction of $63,000.00. Following the completion of the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $3,906,000. This represents a 1.64 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 19,140 shares of company stock worth $1,195,743. Company insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock opened at $52.38 on Thursday. The stock has a market cap of $784.81 million and a price-to-earnings ratio of 21.83. Burke & Herbert Financial Services Corp. has a twelve month low of $46.00 and a twelve month high of $75.32. The company’s fifty day moving average is $59.49 and its 200 day moving average is $62.56. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, meeting 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%. Sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 4.20%. Burke & Herbert Financial Services’s payout ratio is 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.