AlphaQuest LLC Reduces Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

AlphaQuest LLC decreased its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 63.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,890 shares of the company's stock after selling 4,953 shares during the quarter. AlphaQuest LLC's holdings in Burke & Herbert Financial Services were worth $180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BHRB. Barclays PLC lifted its position in shares of Burke & Herbert Financial Services by 204.0% during the 3rd quarter. Barclays PLC now owns 22,225 shares of the company's stock worth $1,357,000 after buying an additional 14,915 shares during the last quarter. State Street Corp lifted its position in Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company's stock valued at $17,661,000 after acquiring an additional 26,191 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Burke & Herbert Financial Services in the third quarter valued at $1,005,000. Geode Capital Management LLC boosted its stake in Burke & Herbert Financial Services by 5.2% in the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company's stock valued at $18,681,000 after acquiring an additional 15,092 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Burke & Herbert Financial Services by 481.5% during the third quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company's stock worth $2,025,000 after purchasing an additional 27,490 shares during the last quarter.

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Burke & Herbert Financial Services Stock Performance

BHRB stock traded down $0.36 on Thursday, hitting $57.88. The company's stock had a trading volume of 34,233 shares, compared to its average volume of 45,642. The stock has a market cap of $866.35 million and a price-to-earnings ratio of 24.12. The firm has a 50 day moving average of $61.89 and a two-hundred day moving average of $63.76. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, meeting analysts' consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Equities analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.80%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 91.67%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and decreased their target price for the company from $79.00 to $76.00 in a research report on Monday, January 27th.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $58.38 per share, with a total value of $66,553.20. Following the completion of the acquisition, the director now directly owns 91,361 shares in the company, valued at approximately $5,333,655.18. The trade was a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary L. Hinkle purchased 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the completion of the purchase, the director now owns 244,355 shares of the company's stock, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 19,140 shares of company stock worth $1,195,743. 9.65% of the stock is currently owned by insiders.

Burke & Herbert Financial Services 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.