Insider Selling: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $232,879.50 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Geary II sold 3,150 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the completion of the transaction, the director owned 9,457 shares in the company, valued at approximately $699,156.01. The trade was a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Burke & Herbert Financial Services Trading Down 0.5%

BHRB stock opened at $73.42 on Friday. Burke & Herbert Financial Services Corp. has a 12 month low of $56.50 and a 12 month high of $75.08. The firm’s 50-day moving average is $69.38 and its 200 day moving average is $66.15. The company has a market capitalization of $1.48 billion, a PE ratio of 11.77 and a beta of 0.57. 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 (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.05. The company had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. On average, research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.55 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. Burke & Herbert Financial Services’s payout ratio is presently 35.26%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $87,556,000. Bank of New York Mellon Corp purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $7,555,000. Goldman Sachs Group Inc. lifted its stake in shares of Burke & Herbert Financial Services by 68.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock worth $10,235,000 after purchasing an additional 66,778 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Burke & Herbert Financial Services by 235.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock valued at $5,088,000 after purchasing an additional 57,306 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Burke & Herbert Financial Services by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock valued at $22,919,000 after purchasing an additional 49,957 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have commented on BHRB. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods upped their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a research note on Monday, July 27th. Finally, Wall Street Zen downgraded Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.25.

Burke & Herbert Financial Services Company Profile

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.