Burke & Herbert Financial Services (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell Buys 5,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the purchase, the director owned 208,939 shares of the company’s stock, valued at approximately $13,173,603.95. This represents a 2.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Burke & Herbert Financial Services Trading Down 1.2%

BHRB stock opened at $62.33 on Wednesday. The company has a market cap of $938.07 million, a P/E ratio of 8.08 and a beta of 0.74. Burke & Herbert Financial Services Corp. has a twelve month low of $54.45 and a twelve month high of $70.90. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $63.44 and a 200-day moving average of $64.21.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during 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%. As a group, equities research analysts expect that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. Burke & Herbert Financial Services’s payout ratio is presently 28.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHRB. Kestra Advisory Services LLC acquired a new position in Burke & Herbert Financial Services in the fourth quarter valued at about $30,000. State of Alaska Department of Revenue acquired a new position in Burke & Herbert Financial Services in the third quarter valued at about $37,000. Aquatic Capital Management LLC acquired a new position in Burke & Herbert Financial Services in the third quarter valued at about $117,000. First United Bank & Trust grew its stake in Burke & Herbert Financial Services by 96.3% in the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock valued at $139,000 after acquiring an additional 1,109 shares during the period. Finally, Strs Ohio acquired a new position in Burke & Herbert Financial Services in the third quarter valued at about $160,000.

Analysts Set New Price Targets

BHRB has been the subject of a number of recent research reports. DA Davidson restated a “neutral” rating and set a $70.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Loop Capital set a $74.00 target price on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Finally, Freedom Capital downgraded Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Burke & Herbert Financial Services presently has an average rating of “Hold” and an average target price of $71.40.

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.