Hussman Strategic Advisors Inc. Acquires New Position in Burke & Herbert Financial Services Corp. $BHRB

Hussman Strategic Advisors Inc. acquired a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,500 shares of the company’s stock, valued at approximately $627,000. Hussman Strategic Advisors Inc. owned about 0.07% of Burke & Herbert Financial Services as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Wyoming bought a new stake in Burke & Herbert Financial Services in the first quarter valued at about $49,000. CWM LLC increased its holdings in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after buying an additional 740 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Burke & Herbert Financial Services by 104.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock valued at $101,000 after buying an additional 920 shares during the last quarter. Larson Financial Group LLC bought a new stake in Burke & Herbert Financial Services in the first quarter valued at about $141,000. Finally, Quantbot Technologies LP increased its holdings in Burke & Herbert Financial Services by 360,400.0% in the first quarter. Quantbot Technologies LP now owns 3,605 shares of the company’s stock valued at $202,000 after buying an additional 3,604 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BHRB shares. Keefe, Bruyette & Woods boosted their price objective on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 8th. Janney Montgomery Scott started coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They set a “buy” rating and a $70.00 price objective for the company. Summit Redstone set a $71.00 price objective on shares of Burke & Herbert Financial Services in a research report on Thursday, October 9th. Finally, DA Davidson downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Burke & Herbert Financial Services has an average rating of “Hold” and a consensus price target of $71.50.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $61.00 per share, with a total value of $61,000.00. Following the purchase, the director owned 67,000 shares in the company, valued at approximately $4,087,000. The trade was a 1.52% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.92% of the company’s stock.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB opened at $59.20 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $61.36 and a 200-day simple moving average of $59.66. The company has a market cap of $889.18 million, a PE ratio of 8.41 and a beta of 1.08. Burke & Herbert Financial Services Corp. has a 12-month low of $47.57 and a 12-month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.82 earnings per share (EPS) for the quarter. The business had revenue of $32.13 million during the quarter. Burke & Herbert Financial Services had a return on equity of 15.28% and a net margin of 21.68%. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, November 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.7%. Burke & Herbert Financial Services’s payout ratio is currently 31.25%.

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.