LSV Asset Management Invests $968,000 in Burke & Herbert Financial Services Corp. $BHRB

LSV Asset Management acquired a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the second quarter, HoldingsChannel reports. The firm acquired 16,200 shares of the company’s stock, valued at approximately $968,000.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in Burke & Herbert Financial Services by 732.7% in the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after purchasing an additional 740 shares during the period. State of Wyoming acquired a new stake in shares of Burke & Herbert Financial Services in the 1st quarter valued at about $49,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 purchasing an additional 920 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Burke & Herbert Financial Services by 360,400.0% during the first quarter. Quantbot Technologies LP now owns 3,605 shares of the company’s stock worth $202,000 after buying an additional 3,604 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Burke & Herbert Financial Services during the first quarter worth about $221,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their target price on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.50.

Burke & Herbert Financial Services Trading Up 4.3%

Shares of Burke & Herbert Financial Services stock opened at $63.34 on Friday. The stock has a market cap of $952.00 million, a P/E ratio of 9.00 and a beta of 1.08. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Burke & Herbert Financial Services Corp. has a 12-month low of $47.57 and a 12-month high of $72.68. The business’s 50 day moving average is $60.88 and its 200-day moving average is $60.25.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, January 26th. The company reported $1.82 earnings per share for the quarter. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 14.95%. The business had revenue of $32.13 million for the quarter. Equities research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid 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 3.5%. Burke & Herbert Financial Services’s payout ratio is currently 31.25%.

Insider Activity

In other news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average cost of $61.00 per share, with a total value of $61,000.00. Following the acquisition, the director owned 67,000 shares in the company, valued at $4,087,000. This trade represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.92% of the company’s stock.

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.