Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Purchased by Fourthstone LLC

Fourthstone LLC raised its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,526 shares of the company’s stock after purchasing an additional 56,928 shares during the quarter. Burke & Herbert Financial Services accounts for approximately 5.5% of Fourthstone LLC’s portfolio, making the stock its 6th largest position. Fourthstone LLC’s holdings in Burke & Herbert Financial Services were worth $28,344,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BHRB. Swiss National Bank lifted its stake in Burke & Herbert Financial Services by 1.1% during the 4th quarter. Swiss National Bank now owns 26,400 shares of the company’s stock worth $1,646,000 after acquiring an additional 300 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Rhumbline Advisers now owns 18,548 shares of the company’s stock valued at $1,157,000 after purchasing an additional 341 shares during the period. Sterling Capital Management LLC increased its stake in Burke & Herbert Financial Services by 841.3% during the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after buying an additional 387 shares during the period. Jane Street Group LLC lifted its holdings in Burke & Herbert Financial Services by 6.9% during the 3rd quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock worth $1,145,000 after buying an additional 1,218 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Burke & Herbert Financial Services by 5.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,402 shares of the company’s stock valued at $1,459,000 after buying an additional 1,253 shares during the period.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $58.38 per share, for a total transaction of $66,553.20. Following the completion of the purchase, the director now directly owns 91,361 shares in the company, valued at $5,333,655.18. This trade represents a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary L. Hinkle purchased 3,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was bought at an average price of $64.97 per share, for a total transaction of $194,910.00. Following the completion of the purchase, the director now directly owns 248,459 shares of the company’s stock, valued at $16,142,381.23. The trade was a 1.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 19,140 shares of company stock valued at $1,195,743 over the last quarter. 9.65% of the stock is owned by insiders.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $49.34 on Thursday. The stock has a 50-day simple moving average of $57.97 and a 200-day simple moving average of $62.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32. The stock has a market capitalization of $739.26 million and a PE ratio of 20.56.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued 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%. On average, analysts predict 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 company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.46%. Burke & Herbert Financial Services’s payout ratio is currently 91.67%.

Analyst Ratings Changes

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

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.