Insider Selling: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $232,879.50 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Geary II sold 3,150 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the transaction, the director directly owned 9,457 shares of the company’s stock, valued at $699,156.01. This trade represents a 24.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Burke & Herbert Financial Services Trading Down 0.7%

Shares of BHRB traded down $0.52 during mid-day trading on Wednesday, reaching $74.12. The company had a trading volume of 102,143 shares, compared to its average volume of 133,859. Burke & Herbert Financial Services Corp. has a fifty-two week low of $56.39 and a fifty-two week high of $75.08. The firm has a fifty day simple moving average of $68.77 and a 200-day simple moving average of $65.98. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 11.88 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.05. The business had revenue of $106.90 million during the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%. On average, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, August 14th. This represents a $2.20 annualized dividend and a yield of 3.0%. Burke & Herbert Financial Services’s dividend payout ratio is currently 35.26%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a report on Monday, July 27th. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings raised shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. One investment 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 stock. According to data from MarketBeat.com, Burke & Herbert Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $75.25.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Large investors have recently added to or reduced their stakes in the company. Endeavour Capital Advisors Inc. boosted its position in Burke & Herbert Financial Services by 22.0% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after buying an additional 22,601 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Burke & Herbert Financial Services during the first quarter worth about $1,038,000. Vanguard Group Inc. increased its position in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Burke & Herbert Financial Services by 46.1% in the first quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock worth $4,191,000 after acquiring an additional 21,227 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Burke & Herbert Financial Services in the fourth quarter valued at about $627,000.

Burke & Herbert Financial Services Company 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.