LSV Asset Management Buys 24,700 Shares of Burke & Herbert Financial Services Corp. $BHRB

LSV Asset Management boosted its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 152.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,900 shares of the company’s stock after buying an additional 24,700 shares during the quarter. LSV Asset Management owned 0.27% of Burke & Herbert Financial Services worth $2,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Burke & Herbert Financial Services during the 3rd quarter valued at about $37,000. CWM LLC lifted its stake in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after purchasing an additional 740 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Burke & Herbert Financial Services by 22.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after buying an additional 400 shares during the period. First United Bank & Trust grew its stake in shares of Burke & Herbert Financial Services by 96.3% during the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock valued at $139,000 after buying an additional 1,109 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Burke & Herbert Financial Services in the third quarter worth approximately $160,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.50.

Burke & Herbert Financial Services Price Performance

BHRB opened at $68.24 on Tuesday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.84 and a beta of 1.02. The company has a current ratio of 0.81, a quick 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 $70.90. The business’s fifty day simple moving average is $65.74 and its 200-day simple moving average is $62.97.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The company had revenue of $86.56 million during the quarter, compared to analyst estimates of $80.72 million. On average, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 28.50%.

Burke & Herbert Financial Services Profile

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.