Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Acquires $56,500.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin bought 1,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average price of $56.50 per share, with a total value of $56,500.00. Following the completion of the purchase, the director now directly owns 64,000 shares of the company’s stock, valued at approximately $3,616,000. This represents a 1.59 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Burke & Herbert Financial Services Trading Up 1.7 %

NASDAQ BHRB opened at $57.16 on Friday. The company has a market capitalization of $856.46 million and a price-to-earnings ratio of 23.82. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The company’s fifty day moving average price is $54.86 and its two-hundred day moving average price is $61.43.

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

Burke & Herbert Financial Services declared that its board has approved a stock repurchase program on Friday, April 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Thursday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 62.68%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered 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.

Institutional Trading of Burke & Herbert Financial Services

A number of large investors have recently modified their holdings of BHRB. Barclays PLC lifted its holdings in Burke & Herbert Financial Services by 204.0% in the third quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after purchasing an additional 14,915 shares during the period. JPMorgan Chase & Co. raised its stake in Burke & Herbert Financial Services by 481.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock valued at $2,025,000 after purchasing an additional 27,490 shares during the period. SG Americas Securities LLC lifted its stake in Burke & Herbert Financial Services by 49.8% in the 4th quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock worth $473,000 after acquiring an additional 2,524 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Rhumbline Advisers now owns 18,548 shares of the company’s stock worth $1,157,000 after purchasing an additional 341 shares during the period. Finally, Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at $340,000.

Burke & Herbert Financial Services Company 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.