Georgette George Sells 1,000 Shares of Burke & Herbert Financial Services (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Georgette George sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the sale, the director directly owned 38,321 shares of the company’s stock, valued at $2,823,108.07. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Burke & Herbert Financial Services Price Performance

Shares of BHRB opened at $74.12 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. 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 50-day simple moving average of $68.98 and a 200-day simple moving average of $66.04. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.88 and a beta of 0.57.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%.The firm had revenue of $106.90 million for the quarter, compared to analysts’ expectations of $112.86 million. On average, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

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

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. Quantbot Technologies LP boosted its position in Burke & Herbert Financial Services by 8.1% during the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after purchasing an additional 292 shares during the last quarter. Rhumbline Advisers increased its position in Burke & Herbert Financial Services by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after purchasing an additional 298 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after purchasing an additional 319 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 4th quarter worth about $30,000. Finally, Swiss National Bank lifted its holdings in shares of Burke & Herbert Financial Services by 1.9% during the 4th quarter. Swiss National Bank now owns 26,600 shares of the company’s stock valued at $1,657,000 after buying an additional 500 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. 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 boosted their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Finally, Wall Street Zen cut shares of Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.25.

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.