Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 2,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average price of $62.50 per share, with a total value of $125,000.00. Following the completion of the purchase, the director now owns 189,939 shares in the company, valued at approximately $11,871,187.50. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, February 13th, Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $63.75 per share, with a total value of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell purchased 3,000 shares of Burke & Herbert Financial Services stock. The stock was bought at an average cost of $68.75 per share, with a total value of $206,250.00.

Burke & Herbert Financial Services Price Performance

NASDAQ BHRB traded down $1.10 on Friday, hitting $62.37. The company had a trading volume of 63,035 shares, compared to its average volume of 35,851. The company has a market capitalization of $933.68 million and a PE ratio of 25.99. The company’s fifty day moving average price is $63.06 and its 200-day moving average price is $64.08. 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.

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

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is 91.67%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of large investors have recently modified their holdings of BHRB. Fourthstone LLC grew its holdings in shares of Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after buying an additional 90,151 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Burke & Herbert Financial Services by 190.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock worth $6,616,000 after buying an additional 71,105 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Burke & Herbert Financial Services by 94.4% during the fourth quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company’s stock worth $4,024,000 after buying an additional 31,327 shares in the last quarter. State Street Corp grew its holdings in shares of Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after buying an additional 26,191 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Burke & Herbert Financial Services by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock worth $45,658,000 after buying an additional 22,559 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

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.