Burke & Herbert Financial Services (NASDAQ:BHRB) Stock: Insider Shawn Patrick Mclaughlin Buys 500 Shares

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Mclaughlin purchased 500 shares of the stock in a transaction dated Thursday, October 29th. The stock was purchased at an average cost of $71.00 per share, for a total transaction of $35,500.00. Following the completion of the purchase, the director directly owned 71,500 shares of the company’s stock, valued at approximately $5,076,500. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Burke & Herbert Financial Services Stock Down 0.8%

Shares of BHRB opened at $70.48 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. Burke & Herbert Financial Services Corp. has a one year low of $58.01 and a one year high of $75.08. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.65 and a beta of 0.58. The stock has a 50 day moving average price of $70.34 and a 200 day moving average price of $67.47.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. The company had revenue of $119.74 million for the quarter, compared to analyst estimates of $121.32 million. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. Equities research analysts forecast that Burke & Herbert Financial Services Corp. will post 7.88 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio is presently 36.36%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of institutional investors have recently added to or reduced their stakes in BHRB. BlackRock Inc. purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth $87,556,000. Dimensional Fund Advisors LP grew its holdings in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock valued at $22,919,000 after purchasing an additional 49,957 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $7,555,000. Empowered Funds LLC purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $5,140,000. Finally, Pinnacle Holdings LLC acquired a new stake in Burke & Herbert Financial Services during the second quarter worth about $3,101,000.

Wall Street Analyst Weigh In

BHRB has been the topic of several research reports. DA Davidson set a $75.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.67.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.