Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Acquires $59,750.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $59.75 per share, for a total transaction of $59,750.00. Following the purchase, the director now owns 83,083 shares in the company, valued at approximately $4,964,209.25. The trade was a 1.22 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 10th, Julian Forrest Jr. Barnwell acquired 1,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $58.80 per share, with a total value of $58,800.00.
• On Wednesday, March 5th, Julian Forrest Jr. Barnwell bought 2,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $60.50 per share, for a total transaction of $121,000.00.
• On Wednesday, February 26th, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The shares were acquired at an average cost 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 stock was acquired at an average cost of $62.50 per share, for a total transaction of $125,000.00.
• On Thursday, February 13th, Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock. The shares were acquired 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 purchased 3,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average cost of $68.75 per share, for a total transaction of $206,250.00.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $57.73 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $864.10 million and a price-to-earnings ratio of 24.05. The firm’s 50 day simple moving average is $62.06 and its 200-day simple moving average is $64.07. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.81%. Burke & Herbert Financial Services’s payout ratio is 91.67%.

Analysts Set New Price Targets

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 research note on Monday, January 27th.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of hedge funds have recently bought and sold shares of BHRB. Sterling Capital Management LLC increased its position in shares of Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock valued at $27,000 after buying an additional 387 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after acquiring an additional 936 shares during the period. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services in the 3rd quarter worth $118,000. KLP Kapitalforvaltning AS acquired a new position in Burke & Herbert Financial Services during the fourth quarter worth $156,000. Finally, Squarepoint Ops LLC acquired a new position in Burke & Herbert Financial Services during the fourth quarter worth $218,000.

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.