Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $70,389.60 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Jill Upson sold 1,112 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total transaction of $70,389.60. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $126,600. This represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Burke & Herbert Financial Services Stock Down 1.1%

Shares of NASDAQ BHRB opened at $62.77 on Friday. Burke & Herbert Financial Services Corp. has a 12-month low of $54.45 and a 12-month high of $70.90. The firm has a market cap of $1.26 billion, a PE ratio of 8.14 and a beta of 0.74. The company’s fifty day simple moving average is $63.18 and its 200 day simple moving average is $64.29. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The firm had revenue of $84.70 million for the quarter, compared to analyst estimates of $86.50 million. As a group, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Citigroup lowered shares of Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. Finally, Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Burke & Herbert Financial Services by 68.3% during the first quarter. Bank of America Corp DE now owns 32,188 shares of the company’s stock valued at $2,005,000 after purchasing an additional 13,063 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Burke & Herbert Financial Services by 46.1% during the first quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock valued at $4,191,000 after purchasing an additional 21,227 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Burke & Herbert Financial Services by 13.9% during the first quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock valued at $588,000 after purchasing an additional 1,150 shares in the last quarter. Sei Investments Co. increased its holdings in Burke & Herbert Financial Services by 144.5% during the first quarter. Sei Investments Co. now owns 8,366 shares of the company’s stock worth $521,000 after buying an additional 4,944 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Burke & Herbert Financial Services by 66.9% in the first quarter. First Trust Advisors LP now owns 9,897 shares of the company’s stock worth $616,000 after acquiring an additional 3,966 shares during the period.

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.