Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 1,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $59.75 per share, for a total transaction of $59,750.00. Following the completion of the purchase, the director now owns 83,083 shares in the company, valued at approximately $4,964,209.25. The trade was a 1.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 5th, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $60.50 per share, for a total transaction of $121,000.00.
• On Wednesday, February 26th, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $61.75 per share, for a total transaction of $123,500.00.
• On Friday, February 21st, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $62.50 per share, for a total transaction of $125,000.00.
• On Thursday, February 13th, Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average price of $63.75 per share, for a total transaction of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell bought 3,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average price of $68.75 per share, for a total transaction of $206,250.00.

Burke & Herbert Financial Services Price Performance

NASDAQ BHRB opened at $58.21 on Tuesday. The company has a market capitalization of $871.29 million and a PE ratio of 24.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The business’s fifty day moving average is $62.15 and its 200 day moving average is $64.13. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.78%. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Burke & Herbert Financial Services by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after acquiring an additional 22,559 shares during the period. Fourthstone LLC raised its holdings in Burke & Herbert Financial Services by 14.3% during the fourth quarter. Fourthstone LLC now owns 454,526 shares of the company’s stock valued at $28,344,000 after acquiring an additional 56,928 shares during the period. Geode Capital Management LLC raised its holdings in Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after acquiring an additional 15,092 shares during the period. State Street Corp raised its holdings in Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after acquiring an additional 26,191 shares during the period. Finally, Northern Trust Corp raised its holdings in Burke & Herbert Financial Services by 5.1% during the fourth quarter. Northern Trust Corp now owns 130,117 shares of the company’s stock valued at $8,114,000 after acquiring an additional 6,313 shares during the period.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $79.00 to $76.00 in a research 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.