Burke & Herbert Financial Services (NASDAQ:BHRB) Director Buys $313,800.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were bought at an average cost of $62.76 per share, with a total value of $313,800.00. Following the completion of the purchase, the director directly owned 26,580 shares in the company, valued at approximately $1,668,160.80. This trade represents a 23.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Monday, May 11th, Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average cost of $63.05 per share, with a total value of $315,250.00.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock opened at $63.61 on Friday. The stock’s 50-day moving average is $63.45 and its 200-day moving average is $64.46. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 8.25 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. Burke & Herbert Financial Services Corp. has a 12 month low of $55.40 and a 12 month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 EPS for the quarter, hitting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. Equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services’s payout ratio is currently 28.53%.

Analyst Upgrades and Downgrades

Several research firms have commented on BHRB. Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. Finally, Citigroup cut shares of Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Burke & Herbert Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $71.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHRB. Goldman Sachs Group Inc. grew its holdings in shares of Burke & Herbert Financial Services by 68.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock valued at $10,235,000 after buying an additional 66,778 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Burke & Herbert Financial Services by 235.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock worth $5,088,000 after purchasing an additional 57,306 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock worth $22,919,000 after purchasing an additional 49,957 shares in the last quarter. Endeavour Capital Advisors Inc. lifted its position in shares of Burke & Herbert Financial Services by 65.9% in the third quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock worth $6,337,000 after purchasing an additional 40,809 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Burke & Herbert Financial Services by 122.0% in the fourth quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock worth $2,870,000 after purchasing an additional 25,306 shares in the last quarter.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community?focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.