Burke & Herbert Financial Services (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin Acquires 500 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Mclaughlin bought 500 shares of the stock in a transaction dated Thursday, October 29th. The stock was bought at an average cost of $71.00 per share, for a total transaction of $35,500.00. Following the acquisition, the director directly owned 71,500 shares of the company’s stock, valued at approximately $5,076,500. This represents a 0.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $70.48 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 8.86 and a beta of 0.58. The firm has a fifty day moving average price of $70.34 and a 200 day moving average price of $67.47. Burke & Herbert Financial Services Corp. has a fifty-two week low of $58.01 and a fifty-two week high of $75.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.05 by $0.09. Burke & Herbert Financial Services had a net margin of 18.43% and a return on equity of 14.54%. The business had revenue of $119.74 million for the quarter, compared to analysts’ expectations of $121.32 million. As a group, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 7.88 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 13th. Burke & Herbert Financial Services’s payout ratio is currently 36.36%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Burke & Herbert Financial Services during the 2nd quarter valued at about $87,556,000. Dimensional Fund Advisors LP raised its position in Burke & Herbert Financial Services by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock worth $22,919,000 after purchasing an additional 49,957 shares during the period. Bank of New York Mellon Corp bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $7,555,000. Empowered Funds LLC bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $5,140,000. Finally, Pinnacle Holdings LLC bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $3,101,000.

Analyst Ratings Changes

A number of analysts have issued reports on BHRB shares. Keefe, Bruyette & Woods lifted 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. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a research report on Monday, July 27th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings raised shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.67.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.