Samuel Laing Hinson III Purchases 4,000 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Samuel Laing Hinson III acquired 4,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were bought at an average cost of $53.00 per share, for a total transaction of $212,000.00. Following the completion of the transaction, the director now owns 28,800 shares in the company, valued at approximately $1,526,400. This represents a 16.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Burke & Herbert Financial Services Trading Up 2.9 %

Shares of Burke & Herbert Financial Services stock opened at $57.39 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average of $55.31 and a 200 day moving average of $61.61. The company has a market capitalization of $859.87 million and a P/E ratio of 23.91. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, April 25th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.02. The firm had revenue of $83.01 million during the quarter, compared to analyst estimates of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, May 15th. Burke & Herbert Financial Services’s payout ratio is currently 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has authorized a share buyback program on Friday, April 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Burke & Herbert Financial Services from $73.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several institutional investors have recently bought and sold shares of BHRB. Sterling Capital Management LLC boosted its holdings in shares of Burke & Herbert Financial Services by 841.3% during the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock valued at $27,000 after purchasing an additional 387 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Burke & Herbert Financial Services by 227.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after buying an additional 936 shares during the last quarter. Larson Financial Group LLC purchased a new position in Burke & Herbert Financial Services during the 1st quarter valued at approximately $141,000. KLP Kapitalforvaltning AS bought a new stake in Burke & Herbert Financial Services in the 4th quarter worth approximately $156,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $218,000.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.