Burke & Herbert Financial Services (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell Acquires 5,000 Shares

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the completion of the purchase, the director directly owned 208,939 shares of the company’s stock, valued at $13,173,603.95. The trade was a 2.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Burke & Herbert Financial Services Stock Down 0.6%

Shares of NASDAQ BHRB traded down $0.40 during mid-day trading on Tuesday, reaching $62.67. The company had a trading volume of 89,494 shares, compared to its average volume of 103,441. Burke & Herbert Financial Services Corp. has a twelve month low of $54.45 and a twelve month high of $70.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $943.11 million, a PE ratio of 8.13 and a beta of 0.74. The stock’s 50 day moving average is $63.48 and its 200-day moving average is $64.20.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.66%. The business had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. As a group, equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Freedom Capital downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Zacks Research downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Citigroup downgraded shares of Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday. Finally, DA Davidson reissued a “neutral” rating and set a $70.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Burke & Herbert Financial Services has a consensus rating of “Hold” and a consensus price target of $71.40.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at about $30,000. State of Alaska Department of Revenue acquired a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter valued at about $37,000. Aquatic Capital Management LLC bought a new position in Burke & Herbert Financial Services during the third quarter worth about $117,000. First United Bank & Trust lifted its stake in Burke & Herbert Financial Services by 96.3% during the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after purchasing an additional 1,109 shares during the period. Finally, Strs Ohio bought a new position in Burke & Herbert Financial Services during the third quarter worth about $160,000.

About Burke & Herbert Financial Services

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.