31,166 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Acquired by AA Financial Advisors LLC

AA Financial Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the first quarter, HoldingsChannel.com reports. The firm bought 31,166 shares of the company’s stock, valued at approximately $1,749,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHRB. Sterling Capital Management LLC grew its holdings in shares of Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after acquiring an additional 387 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Burke & Herbert Financial Services by 227.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after purchasing an additional 936 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at about $156,000. Squarepoint Ops LLC bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter worth approximately $218,000. Finally, ProShare Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth approximately $238,000.

Burke & Herbert Financial Services Stock Up 0.2%

BHRB stock opened at $57.04 on Tuesday. The business’s 50-day moving average price is $55.10 and its 200-day moving average price is $59.50. The stock has a market cap of $855.89 million and a P/E ratio of 23.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a twelve month low of $47.26 and a twelve month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Friday, April 25th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. The business had revenue of $83.01 million for the quarter, compared to the consensus estimate of $85.50 million. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, equities research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is currently 62.68%.

Burke & Herbert Financial Services declared that its board has authorized a stock buyback plan on Friday, April 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BHRB. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods reduced their price objective on Burke & Herbert Financial Services from $73.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Jose David Riojas acquired 500 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $55.85 per share, with a total value of $27,925.00. Following the completion of the purchase, the director now directly owns 19,000 shares in the company, valued at approximately $1,061,150. The trade was a 2.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Samuel Laing Hinson III bought 4,802 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average cost of $55.00 per share, for a total transaction of $264,110.00. Following the purchase, the director now directly owns 33,602 shares in the company, valued at $1,848,110. This trade represents a 16.67% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,302 shares of company stock worth $560,535. Corporate insiders own 10.92% of the company’s stock.

Burke & Herbert Financial Services Profile

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.