Hotchkis & Wiley Capital Management LLC Makes New Investment in Burke & Herbert Financial Services Corp. $BHRB

Hotchkis & Wiley Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 102,690 shares of the company’s stock, valued at approximately $5,762,000. Hotchkis & Wiley Capital Management LLC owned 0.69% of Burke & Herbert Financial Services at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Burke & Herbert Financial Services by 7.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company’s stock worth $481,000 after buying an additional 535 shares during the period. MetLife Investment Management LLC grew its position in Burke & Herbert Financial Services by 7.6% during the fourth quarter. MetLife Investment Management LLC now owns 8,214 shares of the company’s stock worth $512,000 after buying an additional 577 shares during the period. PNC Financial Services Group Inc. grew its position in Burke & Herbert Financial Services by 104.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock worth $101,000 after buying an additional 920 shares during the period. Tower Research Capital LLC TRC grew 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 worth $84,000 after buying an additional 936 shares during the period. Finally, Delphi Management Inc. MA grew its position in Burke & Herbert Financial Services by 21.6% during the first quarter. Delphi Management Inc. MA now owns 5,520 shares of the company’s stock worth $310,000 after buying an additional 980 shares during the period.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Jose David Riojas bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $55.85 per share, for a total transaction of $27,925.00. Following the completion of the transaction, the director owned 19,000 shares in the company, valued at $1,061,150. The trade was a 2.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BHRB. Wall Street Zen cut shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised their price objective on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. DA Davidson raised their price objective on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Janney Montgomery Scott began coverage on shares of Burke & Herbert Financial Services in a research note on Thursday, July 10th. They set a “buy” rating and a $70.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $71.67.

Burke & Herbert Financial Services Stock Down 1.8%

Shares of NASDAQ BHRB opened at $62.53 on Tuesday. Burke & Herbert Financial Services Corp. has a 1 year low of $47.57 and a 1 year high of $75.32. The firm’s 50 day moving average price is $60.71 and its 200 day moving average price is $58.31. The firm has a market cap of $939.33 million, a P/E ratio of 9.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, July 24th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The firm had revenue of $87.11 million for the quarter, compared to analyst estimates of $86.06 million. As a group, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 31.93%.

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.