Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $73,670.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Georgette George sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.67, for a total transaction of $73,670.00. Following the transaction, the director directly owned 38,321 shares of the company’s stock, valued at $2,823,108.07. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock opened at $73.76 on Friday. The firm has a market cap of $1.49 billion, a P/E ratio of 11.82 and a beta of 0.57. The firm’s 50-day simple moving average is $69.19 and its 200-day simple moving average is $66.10. Burke & Herbert Financial Services Corp. has a twelve month low of $56.39 and a twelve month high of $75.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.05. The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. As a group, research analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 35.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Endeavour Capital Advisors Inc. boosted its stake in Burke & Herbert Financial Services by 22.0% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock worth $7,809,000 after purchasing an additional 22,601 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Burke & Herbert Financial Services during the first quarter worth $1,038,000. Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock valued at $48,589,000 after buying an additional 14,358 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Burke & Herbert Financial Services by 46.1% in the first quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock valued at $4,191,000 after buying an additional 21,227 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock valued at $22,919,000 after buying an additional 49,957 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BHRB. Keefe, Bruyette & Woods boosted their price target on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Finally, Wall Street Zen lowered shares of Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.25.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.