Burke & Herbert Financial Services Corp. $BHRB Stock: Burke & Herbert Bank & Trust Co. Decreases Stake

Burke & Herbert Bank & Trust Co. trimmed its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 4.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,035 shares of the company’s stock after selling 9,707 shares during the quarter. Burke & Herbert Financial Services accounts for 3.4% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 5th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Burke & Herbert Financial Services were worth $14,271,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in Burke & Herbert Financial Services by 33.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 808 shares of the company’s stock valued at $55,000 after purchasing an additional 202 shares during the period. Signaturefd LLC increased its stake in Burke & Herbert Financial Services by 2,636.4% during the 3rd quarter. Signaturefd LLC now owns 1,505 shares of the company’s stock valued at $103,000 after purchasing an additional 1,450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Burke & Herbert Financial Services during the second quarter worth $203,000. The Manufacturers Life Insurance Company acquired a new position in Burke & Herbert Financial Services during the second quarter worth $291,000. Finally, Canton Hathaway LLC acquired a new position in Burke & Herbert Financial Services during the third quarter worth $305,000.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $69.86 on Friday. Burke & Herbert Financial Services Corp. has a twelve month low of $59.00 and a twelve month high of $75.08. The stock’s 50 day moving average price is $70.28 and its 200-day moving average price is $67.60. The company has a market capitalization of $1.41 billion, a PE ratio of 8.97 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. The company had revenue of $119.74 million during the quarter, compared to the consensus estimate of $121.32 million. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. On average, equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.06 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

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

Insider Activity

In related news, Director James Mason Burke sold 1,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the completion of the transaction, the director owned 258,480 shares in the company, valued at approximately $18,876,794.40. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shawn Mclaughlin acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were bought at an average price of $71.00 per share, with a total value of $35,500.00. Following the acquisition, the director directly owned 71,500 shares of the company’s stock, valued at $5,076,500. The trade was a 0.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,839 shares of company stock valued at $133,648 in the last ninety days. 11.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on BHRB shares. Keefe, Bruyette & Woods raised their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Wall Street Zen upgraded shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded 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 given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.67.

Burke & Herbert Financial Services Company Profile

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.