Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys $318,750.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $63.75 per share, for a total transaction of $318,750.00. Following the acquisition, the director now directly owns 187,939 shares of the company’s stock, valued at approximately $11,981,111.25. This represents a 2.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

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

Burke & Herbert Financial Services Stock Up 2.0 %

Shares of NASDAQ:BHRB opened at $64.44 on Friday. The company has a 50 day moving average of $63.77 and a two-hundred day moving average of $64.14. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $964.67 million and a price-to-earnings ratio of 26.85.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting 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%. As a group, analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.41%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fourthstone LLC lifted its holdings in shares of Burke & Herbert Financial Services by 29.3% in the 3rd quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Burke & Herbert Financial Services by 190.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after buying an additional 71,105 shares during the last quarter. JPMorgan Chase & Co. boosted 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 valued at $4,024,000 after acquiring an additional 31,327 shares during the period. State Street Corp grew its position 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 acquiring an additional 26,191 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock worth $45,658,000 after acquiring an additional 22,559 shares during the period.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and dropped their price target for the stock 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.