Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Large Volume Increase – Time to Buy?

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw strong trading volume on Friday . 55,117 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 52,835 shares.The stock last traded at $66.50 and had previously closed at $69.79.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BHRB. DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Summit Redstone set a $71.00 price objective on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Zacks Research raised shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.50.

Burke & Herbert Financial Services Trading Down 4.6%

The business’s 50 day moving average price is $62.97 and its 200-day moving average price is $61.58. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 9.46 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, January 26th. The company reported $1.82 EPS for the quarter. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%.The business had revenue of $32.13 million during the quarter. On average, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. Burke & Herbert Financial Services’s dividend payout ratio is presently 31.25%.

Insider Activity

In other news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $61.00 per share, with a total value of $61,000.00. Following the acquisition, the director directly owned 67,000 shares of the company’s stock, valued at approximately $4,087,000. This trade represents a 1.52% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.92% of the stock is owned by company insiders.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 740,512 shares of the company’s stock worth $41,550,000 after acquiring an additional 8,349 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Burke & Herbert Financial Services by 77.0% during the first quarter. Invesco Ltd. now owns 10,144 shares of the company’s stock worth $569,000 after purchasing an additional 4,414 shares during the last quarter. Nuveen LLC bought a new position in shares of Burke & Herbert Financial Services in the first quarter valued at about $1,685,000. American Century Companies Inc. raised its holdings in shares of Burke & Herbert Financial Services by 103.7% in the first quarter. American Century Companies Inc. now owns 52,067 shares of the company’s stock valued at $2,921,000 after buying an additional 26,509 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Burke & Herbert Financial Services by 360,400.0% during the 1st quarter. Quantbot Technologies LP now owns 3,605 shares of the company’s stock worth $202,000 after buying an additional 3,604 shares in the last quarter.

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.