Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,113 shares of the company’s stock after selling 1,200 shares during the period. Moors & Cabot Inc.’s holdings in Burke & Herbert Financial Services were worth $1,628,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BHRB. Barclays PLC grew its holdings in Burke & Herbert Financial Services by 204.0% in the third quarter. Barclays PLC now owns 22,225 shares of the company’s stock valued at $1,357,000 after purchasing an additional 14,915 shares during the period. State Street Corp grew its stake 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 buying an additional 26,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Burke & Herbert Financial Services during the third quarter worth approximately $1,005,000. Geode Capital Management LLC grew its stake in Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after buying an additional 15,092 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Burke & Herbert Financial Services by 481.5% during the third quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after buying an additional 27,490 shares during the period.

Wall Street Analyst Weigh In

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

Burke & Herbert Financial Services Price Performance

BHRB opened at $58.72 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32. The company has a 50 day moving average of $61.99 and a two-hundred day moving average of $64.03. The company has a market cap of $878.92 million and a P/E ratio of 24.47.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, January 24th. The company reported $1.77 earnings per share 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%. On average, analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 3.75%. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of $63.00 per share, with a total value of $63,000.00. Following the completion of the acquisition, the director now owns 62,000 shares of the company’s stock, valued at approximately $3,906,000. This trade represents a 1.64 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $68.75 per share, with a total value of $206,250.00. Following the transaction, the director now directly owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. The trade was a 1.67 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 21,000 shares of company stock valued at $1,335,440 over the last ninety days. Corporate insiders own 9.65% of the company’s stock.

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.