4,925 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Bought by Voleon Capital Management LP

Voleon Capital Management LP purchased a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,925 shares of the company’s stock, valued at approximately $307,000.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Burke & Herbert Financial Services by 204.0% during the third quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after purchasing an additional 14,915 shares during the period. Trexquant Investment LP purchased a new stake in Burke & Herbert Financial Services in the 4th quarter worth approximately $367,000. JPMorgan Chase & Co. grew its position in shares of Burke & Herbert Financial Services by 481.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after buying an additional 27,490 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Burke & Herbert Financial Services by 30.1% during the fourth quarter. American Century Companies Inc. now owns 25,558 shares of the company’s stock valued at $1,594,000 after buying an additional 5,917 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock valued at $6,894,000 after acquiring an additional 2,078 shares in the last quarter.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $64.97 per share, with a total value of $194,910.00. Following the completion of the purchase, the director now owns 248,459 shares of the company’s stock, valued at approximately $16,142,381.23. This trade represents a 1.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Samuel Laing Hinson III purchased 4,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was bought at an average cost of $53.00 per share, for a total transaction of $212,000.00. Following the completion of the transaction, the director now owns 28,800 shares in the company, valued at approximately $1,526,400. This represents a 16.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 21,140 shares of company stock valued at $1,280,263 in the last three months. Company insiders own 10.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of Burke & Herbert Financial Services from $73.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $55.78 on Friday. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32. The company has a 50-day simple moving average of $55.42 and a two-hundred day simple moving average of $61.64. 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 firm has a market capitalization of $835.75 million and a PE ratio of 23.24.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, April 25th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.02. The company had revenue of $83.01 million for the quarter, compared to analyst estimates of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services declared that its Board of Directors has initiated a share buyback program on Friday, April 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 62.68%.

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.