James Geary II Sells 3,150 Shares of Burke & Herbert Financial Services (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Geary II sold 3,150 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the completion of the sale, the director directly owned 9,457 shares in the company, valued at $699,156.01. This represents a 24.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Burke & Herbert Financial Services Trading Down 0.5%

Shares of BHRB stock opened at $73.76 on Friday. The stock has a 50-day simple moving average of $69.19 and a 200 day simple moving average of $66.10. The stock has a market capitalization of $1.49 billion, a P/E ratio of 11.82 and a beta of 0.57. Burke & Herbert Financial Services Corp. has a fifty-two week low of $56.39 and a fifty-two week high of $75.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $112.86 million. On average, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s payout ratio is presently 35.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP lifted its position in shares of Burke & Herbert Financial Services by 8.1% in 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 grew its position in Burke & Herbert Financial Services by 1.7% during the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after purchasing an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Burke & Herbert Financial Services by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after purchasing an additional 319 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Burke & Herbert Financial Services in the 4th quarter valued at approximately $30,000. Finally, Swiss National Bank increased its stake in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Swiss National Bank now owns 26,600 shares of the company’s stock valued at $1,657,000 after buying an additional 500 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BHRB. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Keefe, Bruyette & Woods raised their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.