Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases 1,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $59.75 per share, for a total transaction of $59,750.00. Following the completion of the transaction, the director now directly owns 83,083 shares in the company, valued at approximately $4,964,209.25. This trade represents a 1.22 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, March 5th, Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average price of $60.50 per share, with a total value of $121,000.00.
• On Wednesday, February 26th, Julian Forrest Jr. Barnwell bought 2,000 shares of Burke & Herbert Financial Services stock. The stock was bought at an average price of $61.75 per share, for a total transaction of $123,500.00.
• On Friday, February 21st, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The shares were purchased at an average price of $62.50 per share, with a total value of $125,000.00.
• On Thursday, February 13th, Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $63.75 per share, for a total transaction of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell bought 3,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $68.75 per share, with a total value of $206,250.00.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB traded down $0.27 on Monday, hitting $60.02. The company’s stock had a trading volume of 17,497 shares, compared to its average volume of 58,921. The company has a market capitalization of $898.38 million and a price-to-earnings ratio of 25.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The stock’s 50-day moving average is $62.24 and its two-hundred day moving average is $64.17.

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

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 3.67%. Burke & Herbert Financial Services’s payout ratio is 91.67%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors have recently added to or reduced their stakes in BHRB. Barclays PLC raised its stake in shares of Burke & Herbert Financial Services by 204.0% in the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after buying an additional 14,915 shares in the last quarter. State Street Corp grew its holdings in Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after acquiring an additional 26,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Burke & Herbert Financial Services in the third quarter worth about $1,005,000. Geode Capital Management LLC lifted its holdings in Burke & Herbert Financial Services by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after acquiring an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Burke & Herbert Financial Services by 481.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock valued at $2,025,000 after acquiring an additional 27,490 shares during the last quarter.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded 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 report on Monday, January 27th.

About Burke & Herbert Financial Services

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.