HoldCo Asset Management LP Makes New $626,000 Investment in Burke & Herbert Financial Services Corp. $BHRB

HoldCo Asset Management LP acquired a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,480 shares of the company’s stock, valued at approximately $626,000. Burke & Herbert Financial Services comprises about 0.1% of HoldCo Asset Management LP’s investment portfolio, making the stock its 20th largest holding. HoldCo Asset Management LP owned 0.07% of Burke & Herbert Financial Services as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of Burke & Herbert Financial Services by 169.6% during the second quarter. BNP Paribas Financial Markets now owns 13,688 shares of the company’s stock worth $818,000 after purchasing an additional 8,610 shares in the last quarter. Fourthstone LLC lifted its holdings in Burke & Herbert Financial Services by 430.0% during the 2nd quarter. Fourthstone LLC now owns 113,508 shares of the company’s stock worth $6,780,000 after buying an additional 92,091 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $204,000. Marshall Wace LLP increased its holdings in shares of Burke & Herbert Financial Services by 18.6% in the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company’s stock valued at $5,415,000 after acquiring an additional 14,217 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. raised its position in shares of Burke & Herbert Financial Services by 18.7% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 61,913 shares of the company’s stock worth $3,698,000 after acquiring an additional 9,765 shares in the last quarter.

Burke & Herbert Financial Services Stock Up 0.1%

BHRB stock opened at $69.28 on Friday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 9.84 and a beta of 0.97. The company has a fifty day moving average price of $62.23 and a 200 day moving average price of $61.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services Corp. has a 12 month low of $47.57 and a 12 month high of $70.85.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, January 26th. The company reported $1.82 EPS for the quarter. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 14.95%. The company had revenue of $32.13 million for the quarter. Sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.20 annualized dividend and a yield of 3.2%. Burke & Herbert Financial Services’s dividend payout ratio is currently 31.25%.

Insiders Place Their Bets

In related news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $61.00 per share, for a total transaction of $61,000.00. Following the purchase, the director owned 67,000 shares of the company’s stock, valued at $4,087,000. This trade represents a 1.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.92% of the company’s stock.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of research analyst reports. DA Davidson downgraded Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday. Finally, Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Burke & Herbert Financial Services presently has an average rating of “Hold” and a consensus price target of $71.50.

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.