Empowered Funds LLC Invests $5.14 Million in Burke & Herbert Financial Services Corp. $BHRB

Empowered Funds LLC acquired a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the second quarter, HoldingsChannel.com reports. The firm acquired 71,532 shares of the company’s stock, valued at approximately $5,140,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services during the fourth quarter worth about $30,000. Aquatic Capital Management LLC acquired a new stake in Burke & Herbert Financial Services in the 3rd quarter worth about $117,000. Stonebridge Financial Group LLC purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $203,000. Tower Research Capital LLC TRC grew its holdings in Burke & Herbert Financial Services by 585.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after buying an additional 2,898 shares during the period. Finally, Sei Investments Co. purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $204,000.

Insider Buying and Selling

In related news, Director Georgette R. George sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total transaction of $73,670.00. Following the transaction, the director directly owned 38,321 shares of the company’s stock, valued at approximately $2,823,108.07. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Diane Poillon purchased 1,200 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $73.67 per share, with a total value of $88,404.00. Following the acquisition, the director owned 4,128 shares in the company, valued at $304,109.76. This trade represents a 40.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 6,369 shares of company stock valued at $414,547 and have sold 5,650 shares valued at $416,094. 11.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on BHRB shares. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. 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. Freedom Capital raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Keefe, Bruyette & Woods increased 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Price Performance

BHRB opened at $71.31 on Tuesday. Burke & Herbert Financial Services Corp. has a 52-week low of $57.42 and a 52-week high of $75.08. The company has a 50 day moving average of $71.66 and a two-hundred day moving average of $66.81. The company has a market cap of $1.44 billion, a P/E ratio of 11.43 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 earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. The business had revenue of $106.89 million for the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. On average, analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s payout ratio is currently 35.26%.

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.