Royce & Associates LP Has $5.14 Million Stock Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Royce & Associates LP reduced its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,462 shares of the company’s stock after selling 13,317 shares during the period. Royce & Associates LP owned about 0.55% of Burke & Herbert Financial Services worth $5,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHRB. Swiss National Bank grew its stake in shares of Burke & Herbert Financial Services by 1.1% in the 4th quarter. Swiss National Bank now owns 26,400 shares of the company’s stock valued at $1,646,000 after buying an additional 300 shares in the last quarter. Raymond James Financial Inc. bought a new position in Burke & Herbert Financial Services during the fourth quarter valued at approximately $274,000. Verdence Capital Advisors LLC lifted its stake in Burke & Herbert Financial Services by 32.8% in the fourth quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company’s stock valued at $4,264,000 after acquiring an additional 16,884 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Burke & Herbert Financial Services by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock worth $6,894,000 after acquiring an additional 2,078 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth $340,000.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $58.38 per share, with a total value of $66,553.20. Following the acquisition, the director now directly owns 91,361 shares in the company, valued at approximately $5,333,655.18. This trade represents a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary L. Hinkle acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the acquisition, the director now owns 244,355 shares in the company, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 19,140 shares of company stock worth $1,195,743. Company insiders own 9.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $79.00 to $76.00 in a research note on Monday, January 27th.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $58.24 on Thursday. The stock has a 50-day moving average of $61.89 and a 200-day moving average of $63.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. 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 market cap of $871.74 million and a PE ratio of 24.27.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting the consensus estimate 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, equities research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 91.67%.

Burke & Herbert Financial Services 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.