Jill Upson Sells 1,112 Shares of Burke & Herbert Financial Services (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Jill Upson sold 1,112 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the completion of the transaction, the director directly owned 2,000 shares in the company, valued at $126,600. This trade represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock opened at $62.77 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 8.14 and a beta of 0.74. Burke & Herbert Financial Services Corp. has a one year low of $54.45 and a one year high of $70.90. The business’s 50 day simple moving average is $63.18 and its two-hundred day simple moving average is $64.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.87. The firm had revenue of $84.70 million for the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. Analysts forecast that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 28.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BHRB. Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. DA Davidson reiterated a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Burke & Herbert Financial Services has an average rating of “Moderate Buy” and a consensus target price of $71.40.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Burke & Herbert Financial Services by 68.3% in the first quarter. Bank of America Corp DE now owns 32,188 shares of the company’s stock worth $2,005,000 after purchasing an additional 13,063 shares during the period. Empowered Funds LLC grew its stake in Burke & Herbert Financial Services by 46.1% in the first quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock worth $4,191,000 after purchasing an additional 21,227 shares during the period. Quantinno Capital Management LP grew its stake in Burke & Herbert Financial Services by 13.9% in the first quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock worth $588,000 after purchasing an additional 1,150 shares during the period. Sei Investments Co. grew its stake in Burke & Herbert Financial Services by 144.5% in the first quarter. Sei Investments Co. now owns 8,366 shares of the company’s stock worth $521,000 after purchasing an additional 4,944 shares during the period. Finally, First Trust Advisors LP grew its stake in Burke & Herbert Financial Services by 66.9% in the first quarter. First Trust Advisors LP now owns 9,897 shares of the company’s stock worth $616,000 after purchasing an additional 3,966 shares during the period.

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.