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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Julian Forrest Jr. Barnwell bought 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $60.50 per share, for a total transaction of $121,000.00. Following the transaction, the director now directly owns 203,939 shares of the company's stock, valued at approximately $12,338,309.50. This represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, March 7th, Julian Forrest Jr. Barnwell bought 1,000 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $59.75 per share, with a total value of $59,750.00.
• On Wednesday, February 26th, Julian Forrest Jr. Barnwell purchased 2,000 shares of Burke & Herbert Financial Services stock. The shares were purchased at an average price of $61.75 per share, for a total transaction of $123,500.00.
• On Friday, February 21st, Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock. The stock was acquired at an average price of $62.50 per share, with a total value of $125,000.00.
• On Thursday, February 13th, Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock. The shares were acquired 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 purchased 3,000 shares of Burke & Herbert Financial Services stock. The shares were acquired at an average price of $68.75 per share, for a total transaction of $206,250.00.

Burke & Herbert Financial Services Trading Down 3.4 %

BHRB stock traded down $2.08 during trading on Monday, hitting $58.21. The company had a trading volume of 77,733 shares, compared to its average volume of 60,336. The stock has a market cap of $871.29 million and a PE ratio of 24.25. The business has a 50-day moving average of $62.24 and a 200-day moving average of $64.17. 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 one year low of $46.00 and a one year high of $75.32.

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Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly 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%. Research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services's payout ratio is 91.67%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its holdings in shares of Burke & Herbert Financial Services by 18.4% during the third quarter. Verdence Capital Advisors LLC now owns 51,500 shares of the company's stock valued at $3,141,000 after buying an additional 8,000 shares during the last quarter. Quest Partners LLC acquired a new position in Burke & Herbert Financial Services during the 3rd quarter valued at about $478,000. Charles Schwab Investment Management Inc. increased its holdings in Burke & Herbert Financial Services by 190.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company's stock worth $6,616,000 after purchasing an additional 71,105 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Burke & Herbert Financial Services in the third quarter worth approximately $118,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Burke & Herbert Financial Services in the third quarter valued at approximately $1,005,000.

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.