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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $60.50 per share, with a total value of $121,000.00. Following the acquisition, the director now owns 203,939 shares in the company, valued at $12,338,309.50. This trade represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 26th, Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock. The shares were acquired at an average price of $61.75 per share, with a total value of $123,500.00.
• On Friday, February 21st, Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock. The shares were acquired at an average price of $62.50 per share, with a total value of $125,000.00.
• 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, with a total value 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, with a total value of $206,250.00.

Burke & Herbert Financial Services Trading Down 0.4 %

BHRB opened at $61.06 on Thursday. The firm has a market cap of $913.95 million and a price-to-earnings ratio of 25.44. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The stock has a fifty day moving average price of $62.36 and a 200-day moving average price of $64.19.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 91.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its stake in Burke & Herbert Financial Services by 841.3% during the 4th 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 last quarter. Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 227.7% during the 4th 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 last quarter. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at about $118,000. KLP Kapitalforvaltning AS purchased a new stake in Burke & Herbert Financial Services during the 4th quarter valued at about $156,000. Finally, Squarepoint Ops LLC purchased a new stake in Burke & Herbert Financial Services during the 4th quarter valued at about $218,000.

Wall Street Analyst Weigh In

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

Burke & Herbert Financial Services Company 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.