Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Acquires 2,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average cost of $62.50 per share, for a total transaction of $125,000.00. Following the transaction, the director now owns 189,939 shares in the company, valued at approximately $11,871,187.50. The trade was a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Thursday, February 13th, Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average cost of $63.75 per share, for a total transaction of $318,750.00.
• On Friday, December 13th, Julian Forrest Jr. Barnwell acquired 3,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average cost of $68.75 per share, for a total transaction of $206,250.00.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded down $1.10 during trading hours on Friday, hitting $62.37. 63,035 shares of the company were exchanged, compared to its average volume of 35,851. The stock has a market capitalization of $933.68 million and a price-to-earnings ratio of 25.99. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day moving average price is $63.06 and its 200-day moving average price is $64.08.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. As a group, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

Institutional Trading of Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its position in Burke & Herbert Financial Services by 841.3% during the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after purchasing an additional 387 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Burke & Herbert Financial Services by 227.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after acquiring an additional 936 shares during the period. Quantbot Technologies LP acquired a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at approximately $118,000. KLP Kapitalforvaltning AS acquired a new stake in Burke & Herbert Financial Services during the 4th quarter valued at approximately $156,000. Finally, Squarepoint Ops LLC acquired a new stake in Burke & Herbert Financial Services during the 4th quarter valued at approximately $218,000.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $79.00 to $76.00 in a research report on Monday, January 27th.

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.