Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Acquires 2,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of $61.75 per share, with a total value of $123,500.00. Following the completion of the acquisition, the director now owns 197,939 shares of the company’s stock, valued at approximately $12,222,733.25. The trade was a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Friday, February 21st, Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average cost of $62.50 per share, with a total value of $125,000.00.
• On Thursday, February 13th, Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock. The stock was acquired at an average cost of $63.75 per share, with a total value of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell acquired 3,000 shares of Burke & Herbert Financial Services stock. The shares were purchased at an average cost of $68.75 per share, with a total value of $206,250.00.

Burke & Herbert Financial Services Price Performance

Burke & Herbert Financial Services stock traded down $0.00 during trading hours on Thursday, reaching $62.21. 91,850 shares of the stock were exchanged, compared to its average volume of 41,735. The stock has a 50 day moving average of $62.56 and a two-hundred day moving average of $64.18. The company has a market cap of $931.27 million and a P/E ratio of 25.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a twelve month low of $46.00 and a twelve month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 3.54%. Burke & Herbert Financial Services’s payout ratio is 91.67%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $79.00 to $76.00 in a research note on Monday, January 27th.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Burke & Herbert Financial Services by 841.3% during the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after acquiring an additional 387 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 936 shares during the last quarter. Quantbot Technologies LP bought a new position in Burke & Herbert Financial Services during the third quarter valued at approximately $118,000. KLP Kapitalforvaltning AS bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter valued at $156,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at about $218,000.

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.