Burke & Herbert Financial Services (NASDAQ:BHRB) Director Purchases $61,000.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average price of $61.00 per share, for a total transaction of $61,000.00. Following the acquisition, the director owned 67,000 shares of the company’s stock, valued at $4,087,000. This represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Burke & Herbert Financial Services Stock Down 1.7%

Shares of NASDAQ BHRB opened at $59.17 on Friday. The firm has a fifty day simple moving average of $61.61 and a two-hundred day simple moving average of $59.32. Burke & Herbert Financial Services Corp. has a 12 month low of $47.57 and a 12 month high of $75.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $888.73 million, a PE ratio of 8.40 and a beta of 1.11.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.82 earnings per share (EPS) for the quarter. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 15.28%. The company had revenue of $32.13 million for the quarter. Equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, November 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.7%. Burke & Herbert Financial Services’s dividend payout ratio is 31.25%.

Wall Street Analysts Forecast Growth

BHRB has been the subject of a number of research analyst reports. Summit Redstone set a $71.00 target price on Burke & Herbert Financial Services in a research note on Thursday, October 9th. Keefe, Bruyette & Woods raised their price objective on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Zacks Research raised shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in shares of Burke & Herbert Financial Services in the first quarter worth approximately $141,000. Segall Bryant & Hamill LLC bought a new position in Burke & Herbert Financial Services in the 1st quarter valued at approximately $1,723,000. Verdence Capital Advisors LLC lifted its position in Burke & Herbert Financial Services by 4.9% in the 1st quarter. Verdence Capital Advisors LLC now owns 71,707 shares of the company’s stock valued at $4,023,000 after acquiring an additional 3,323 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $267,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 104.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock worth $101,000 after purchasing an additional 920 shares in the last quarter.

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.