EJF Capital LLC Increases Holdings in Burke & Herbert Financial Services Corp. $BHRB

EJF Capital LLC grew its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,368 shares of the company’s stock after buying an additional 4,210 shares during the quarter. Burke & Herbert Financial Services accounts for approximately 2.3% of EJF Capital LLC’s holdings, making the stock its 14th biggest holding. EJF Capital LLC owned approximately 0.43% of Burke & Herbert Financial Services worth $3,612,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State of Wyoming bought a new position in Burke & Herbert Financial Services during the 1st quarter valued at about $49,000. Tower Research Capital LLC TRC grew its holdings in Burke & Herbert Financial Services by 227.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after purchasing an additional 936 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Burke & Herbert Financial Services by 104.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock valued at $101,000 after purchasing an additional 920 shares during the last quarter. Larson Financial Group LLC bought a new position in Burke & Herbert Financial Services during the 1st quarter valued at about $141,000. Finally, Quantbot Technologies LP grew its holdings in Burke & Herbert Financial Services by 360,400.0% during the 1st quarter. Quantbot Technologies LP now owns 3,605 shares of the company’s stock valued at $202,000 after purchasing an additional 3,604 shares during the last quarter.

Burke & Herbert Financial Services Price Performance

Shares of BHRB opened at $63.14 on Thursday. The company has a 50 day moving average price of $61.60 and a 200-day moving average price of $58.35. Burke & Herbert Financial Services Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $75.32. The stock has a market capitalization of $948.49 million, a PE ratio of 9.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.12. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The firm had revenue of $87.11 million during the quarter, compared to analysts’ expectations of $86.06 million. Equities analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, July 28th. DA Davidson upped their price target on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a “buy” rating in a report on Monday, July 28th. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a report on Thursday, July 10th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $71.67.

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.