Burke & Herbert Bank & Trust Co. decreased its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 208,035 shares of the company’s stock after selling 9,707 shares during the period. Burke & Herbert Financial Services makes up about 3.4% of Burke & Herbert Bank & Trust Co.’s portfolio, making the stock its 5th biggest position. Burke & Herbert Bank & Trust Co. owned about 1.03% of Burke & Herbert Financial Services worth $14,271,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at approximately $87,556,000. Dimensional Fund Advisors LP lifted its stake 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 valued at $22,919,000 after purchasing an additional 49,957 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at approximately $7,555,000. Empowered Funds LLC bought a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $5,140,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $3,101,000.
Insiders Place Their Bets
In related news, Director Diane Poillon acquired 1,200 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $73.67 per share, for a total transaction of $88,404.00. Following the purchase, the director directly owned 4,128 shares of the company’s stock, valued at $304,109.76. The trade was a 40.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Mason Burke sold 1,500 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $73.03, for a total transaction of $109,545.00. Following the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders acquired 1,839 shares of company stock worth $133,648. 11.99% of the stock is owned by corporate insiders.
Burke & Herbert Financial Services Price Performance
Shares of NASDAQ BHRB opened at $69.86 on Friday. 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 Corp. has a twelve month low of $59.00 and a twelve month high of $75.08. The firm has a fifty day simple moving average of $70.28 and a 200 day simple moving average of $67.60.
Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) 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. 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. On average, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.06 EPS for the current year.
Burke & Herbert Financial Services Announces Dividend
The firm 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 dividend of $0.55 per share. The ex-dividend date 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 is presently 36.36%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on BHRB. Keefe, Bruyette & Woods boosted their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. 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, DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a report on Monday, July 27th. One research 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.
Check Out Our Latest Stock Analysis on Burke & Herbert Financial Services
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.
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