Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Unusually-High Trading Volume – Here’s Why

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw unusually-strong trading volume on Friday . Approximately 42,258 shares changed hands during trading, a decline of 5% from the previous session’s volume of 44,712 shares.The stock last traded at $67.3750 and had previously closed at $66.91.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research raised Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday. Finally, Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Burke & Herbert Financial Services has an average rating of “Hold” and a consensus target price of $71.50.

Burke & Herbert Financial Services Stock Performance

The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 9.45 and a beta of 0.97. The firm has a 50 day moving average price of $61.39 and a 200-day moving average price of $60.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, January 26th. The company reported $1.82 EPS for the quarter. The firm had revenue of $32.13 million during the quarter. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%. As a group, sell-side analysts expect 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 company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, November 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 31.25%.

Insiders Place Their Bets

In other news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the firm’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 completion of the purchase, the director directly owned 67,000 shares of the company’s stock, valued at $4,087,000. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP grew its stake in shares of Burke & Herbert Financial Services by 8.1% during the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after purchasing an additional 292 shares in the last quarter. Rhumbline Advisers lifted its holdings in Burke & Herbert Financial Services by 1.7% during the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after buying an additional 298 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after buying an additional 319 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Burke & Herbert Financial Services by 22.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after acquiring an additional 400 shares in the last quarter. Finally, EJF Capital LLC increased its holdings in shares of Burke & Herbert Financial Services by 0.9% in the 3rd quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock valued at $3,075,000 after acquiring an additional 448 shares during 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.