Hsbc Holdings PLC Makes New $627,000 Investment in Burke & Herbert Financial Services Corp. $BHRB

Hsbc Holdings PLC bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 10,056 shares of the company’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHRB. Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC acquired a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth about $117,000. Graves Light Lenhart Wealth Inc. acquired a new stake in Burke & Herbert Financial Services during the fourth quarter worth approximately $201,000. Tower Research Capital LLC TRC lifted its holdings in Burke & Herbert Financial Services by 585.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $204,000.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $70.76 on Thursday. The firm has a fifty day simple moving average of $66.05 and a 200 day simple moving average of $65.04. Burke & Herbert Financial Services Corp. has a twelve month low of $56.11 and a twelve month high of $73.69. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.43 billion, a PE ratio of 9.18 and a beta of 0.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.87. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The company had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. On average, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.53%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Jose David Riojas purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $62.00 per share, with a total value of $62,000.00. Following the purchase, the director owned 20,000 shares in the company, valued at $1,240,000. This represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the completion of the transaction, the director directly owned 208,939 shares of the company’s stock, valued at $13,173,603.95. This trade represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 12,300 shares of company stock valued at $774,450 in the last 90 days. Corporate insiders own 11.99% of the company’s stock.

Wall Street Analyst Weigh In

BHRB has been the subject of several recent research reports. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. DA Davidson reaffirmed a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Burke & Herbert Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $71.75.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.