Hendershot Investments Inc. Cuts Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Hendershot Investments Inc. reduced its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,092 shares of the company’s stock after selling 2,080 shares during the quarter. Hendershot Investments Inc.’s holdings in Burke & Herbert Financial Services were worth $442,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in Burke & Herbert Financial Services in the second quarter worth about $427,000. The Manufacturers Life Insurance Company bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $259,000. Truist Financial Corp purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at approximately $202,000. SG Americas Securities LLC lifted its position in Burke & Herbert Financial Services by 113.7% during the third quarter. SG Americas Securities LLC now owns 5,067 shares of the company’s stock valued at $309,000 after acquiring an additional 2,696 shares during the last quarter. Finally, Modera Wealth Management LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth $383,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $79.00 to $76.00 in a research report on Monday, January 27th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target for the company.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $68.75 per share, with a total value of $206,250.00. Following the purchase, the director now owns 182,939 shares of the company’s stock, valued at $12,577,056.25. This represents a 1.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the completion of the acquisition, the director now owns 244,355 shares in the company, valued at $15,756,010.40. The trade was a 0.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 10,950 shares of company stock valued at $742,191 in the last ninety days. 9.65% of the stock is currently owned by corporate insiders.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $64.67 on Friday. 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 12-month low of $46.00 and a 12-month high of $75.32. The firm has a 50 day moving average of $64.22 and a two-hundred day moving average of $64.14. The firm has a market capitalization of $967.98 million and a PE ratio of 26.95.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.40%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 91.67%.

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.