Burke & Herbert Financial Services (NASDAQ:BHRB) Director James Mason Burke Sells 1,500 Shares

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Mason Burke sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the sale, the director owned 258,480 shares of the company’s stock, valued at approximately $18,876,794.40. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock traded up $0.08 on Wednesday, reaching $73.70. The stock had a trading volume of 54,584 shares, compared to its average volume of 132,492. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. Burke & Herbert Financial Services Corp. has a 1 year low of $57.42 and a 1 year high of $75.08. The stock has a market cap of $1.49 billion, a P/E ratio of 11.81 and a beta of 0.57. The company has a 50 day simple moving average of $69.77 and a 200 day simple moving average of $66.28.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%.The company had revenue of $106.89 million during the quarter, compared to analysts’ expectations of $112.86 million. Equities research analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. DA Davidson set a $75.00 price target on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of 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. One equities 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 data from MarketBeat.com, Burke & Herbert Financial Services presently has an average rating of “Moderate Buy” and an average target price of $75.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after acquiring an additional 319 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Burke & Herbert Financial Services by 16.4% during the first quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock valued at $4,031,000 after purchasing an additional 10,117 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Burke & Herbert Financial Services in the first quarter worth approximately $1,287,000. JPMorgan Chase & Co. increased its stake in shares of Burke & Herbert Financial Services by 32.2% in the second quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company’s stock worth $2,957,000 after purchasing an additional 12,057 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Burke & Herbert Financial Services by 4.2% in the second quarter. Legal & General Group Plc now owns 13,389 shares of the company’s stock worth $798,000 after purchasing an additional 538 shares in the last quarter.

About Burke & Herbert Financial Services

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.