Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases 2,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 2,000 shares of the stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of $62.50 per share, for a total transaction of $125,000.00. Following the completion of the transaction, the director now directly owns 189,939 shares of the company’s stock, valued at approximately $11,871,187.50. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Thursday, February 13th, Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $63.75 per share, for a total transaction of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell bought 3,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $68.75 per share, for a total transaction of $206,250.00.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $62.37 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $933.68 million and a P/E ratio of 25.99. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The business’s 50-day moving average is $62.93 and its 200 day moving average is $64.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.53%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC raised its position in Burke & Herbert Financial Services by 841.3% during the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock valued at $27,000 after purchasing an additional 387 shares during the period. Tower Research Capital LLC TRC raised its position in Burke & Herbert Financial Services by 227.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after purchasing an additional 936 shares during the period. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services during the third quarter valued at approximately $118,000. KLP Kapitalforvaltning AS purchased a new stake in Burke & Herbert Financial Services during the fourth quarter valued at approximately $156,000. Finally, Squarepoint Ops LLC purchased a new stake in Burke & Herbert Financial Services during the fourth quarter valued at approximately $218,000.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $79.00 to $76.00 in a research report on Monday, January 27th.

About Burke & Herbert Financial Services

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.