Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) is Hutchinson Capital Management CA’s 10th Largest Position

Hutchinson Capital Management CA trimmed its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 257,080 shares of the company’s stock after selling 2,000 shares during the quarter. Burke & Herbert Financial Services comprises about 3.0% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 10th largest holding. Hutchinson Capital Management CA’s holdings in Burke & Herbert Financial Services were worth $16,032,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of Burke & Herbert Financial Services by 204.0% during the third quarter. Barclays PLC now owns 22,225 shares of the company’s stock valued at $1,357,000 after buying an additional 14,915 shares during the last quarter. State Street Corp raised its position in shares of Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at approximately $1,005,000. Geode Capital Management LLC raised its position in shares of Burke & Herbert Financial Services by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Burke & Herbert Financial Services by 481.5% in 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 last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $79.00 to $76.00 in a research report on Monday, January 27th.

Insiders Place Their Bets

In other news, Director Gary L. Hinkle acquired 3,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $64.97 per share, with a total value of $194,910.00. Following the purchase, the director now directly owns 248,459 shares of the company’s stock, valued at $16,142,381.23. This trade represents a 1.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 1,140 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the purchase, the director now directly owns 91,361 shares in the company, valued at approximately $5,333,655.18. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 19,140 shares of company stock valued at $1,195,743. 9.65% of the stock is owned by insiders.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock opened at $58.74 on Friday. Burke & Herbert Financial Services Corp. has a 52 week low of $46.00 and a 52 week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $879.22 million and a P/E ratio of 24.48. The company has a 50 day moving average price of $61.90 and a 200 day moving average price of $63.92.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

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.