LSV Asset Management Boosts Stake in Burke & Herbert Financial Services Corp. $BHRB

LSV Asset Management boosted its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 152.5% during the third quarter, Holdings Channel.com reports. The fund owned 40,900 shares of the company’s stock after purchasing an additional 24,700 shares during the quarter. LSV Asset Management’s holdings in Burke & Herbert Financial Services were worth $2,523,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Burke & Herbert Financial Services by 6.7% in the second quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after purchasing an additional 21,258 shares during the last quarter. Burke & Herbert Bank & Trust Co. grew its stake in shares of Burke & Herbert Financial Services by 3.1% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock valued at $15,500,000 after buying an additional 7,800 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Burke & Herbert Financial Services by 135.6% in the 2nd quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock valued at $7,326,000 after buying an additional 70,582 shares during the period. Fourthstone LLC lifted its stake in Burke & Herbert Financial Services by 430.0% during the 2nd quarter. Fourthstone LLC now owns 113,508 shares of the company’s stock worth $6,780,000 after acquiring an additional 92,091 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Burke & Herbert Financial Services by 18.6% during the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company’s stock valued at $5,415,000 after acquiring an additional 14,217 shares during the period.

Burke & Herbert Financial Services Stock Down 0.4%

BHRB stock opened at $68.24 on Tuesday. The company’s 50 day moving average price is $65.74 and its 200 day moving average price is $62.97. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.84 and a beta of 1.02. Burke & Herbert Financial Services Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $70.90. 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 quarterly earnings results on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The company had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. On average, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio is 28.50%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BHRB. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.50.

About Burke & Herbert Financial Services

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.