Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) is Burke & Herbert Bank & Trust Co.’s 3rd Largest Position

Burke & Herbert Bank & Trust Co. boosted its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 50.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 308,251 shares of the company’s stock after buying an additional 103,527 shares during the period. Burke & Herbert Financial Services accounts for 3.9% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 3rd largest position. Burke & Herbert Bank & Trust Co. owned 2.08% of Burke & Herbert Financial Services worth $15,715,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHRB. Fortitude Family Office LLC lifted its stake in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after acquiring an additional 883 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Burke & Herbert Financial Services during the 2nd quarter worth about $280,000. Quadrature Capital Ltd purchased a new stake in Burke & Herbert Financial Services during the 1st quarter worth about $392,000. Finally, Vanguard Group Inc. increased its holdings in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares during the period.

Burke & Herbert Financial Services Trading Up 2.6 %

Shares of NASDAQ:BHRB traded up $1.56 during midday trading on Tuesday, reaching $61.18. The company’s stock had a trading volume of 31,177 shares, compared to its average volume of 27,497. The firm has a market cap of $908.40 million and a price-to-earnings ratio of 7.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.13. Burke & Herbert Financial Services Corp. has a 1 year low of $42.91 and a 1 year high of $70.00. The business has a 50 day moving average price of $54.31 and a 200 day moving average price of $53.94.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. Burke & Herbert Financial Services had a positive return on equity of 13.11% and a negative net margin of 1.10%. The firm had revenue of $69.27 million for the quarter.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 26.01%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insider Buying and Selling

In related news, Director Jose David Riojas purchased 1,397 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $47.49 per share, with a total value of $66,343.53. Following the acquisition, the director now owns 16,000 shares in the company, valued at approximately $759,840. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Burke & Herbert Financial Services news, Director Jose David Riojas bought 1,397 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $47.49 per share, with a total value of $66,343.53. Following the purchase, the director now directly owns 16,000 shares of the company’s stock, valued at $759,840. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle purchased 600 shares of the stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $50.23 per share, for a total transaction of $30,138.00. Following the completion of the transaction, the director now owns 219,450 shares in the company, valued at approximately $11,022,973.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,359 shares of company stock worth $315,003. 9.65% of the stock is currently owned by corporate insiders.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.