Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin Purchases 1,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin bought 1,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $56.50 per share, with a total value of $56,500.00. Following the completion of the transaction, the director now owns 64,000 shares in the company, valued at $3,616,000. This represents a 1.59 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Burke & Herbert Financial Services Price Performance

BHRB opened at $56.14 on Thursday. The firm has a market capitalization of $841.15 million and a PE ratio of 23.39. The business’s 50-day moving average is $54.98 and its two-hundred day moving average is $61.46. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its 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. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. The company had revenue of $83.01 million during the quarter, compared to the consensus estimate of $85.50 million. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.92%. Burke & Herbert Financial Services’s payout ratio is 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has approved a stock buyback plan on Friday, April 25th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Burke & Herbert Financial Services by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock worth $45,658,000 after buying an additional 22,559 shares during the period. Fourthstone LLC lifted its position in Burke & Herbert Financial Services by 14.3% during the 4th quarter. Fourthstone LLC now owns 454,526 shares of the company’s stock worth $28,344,000 after acquiring an additional 56,928 shares during the period. Northern Trust Corp grew its stake in Burke & Herbert Financial Services by 5.1% during the 4th quarter. Northern Trust Corp now owns 130,117 shares of the company’s stock valued at $8,114,000 after purchasing an additional 6,313 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock valued at $6,894,000 after purchasing an additional 2,078 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in Burke & Herbert Financial Services by 4.9% in the first quarter. Verdence Capital Advisors LLC now owns 71,707 shares of the company’s stock valued at $4,023,000 after buying an additional 3,323 shares during the last quarter.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped 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 note on Tuesday, April 29th.

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.