Verdence Capital Advisors LLC Buys 16,884 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Verdence Capital Advisors LLC lifted its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 32.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 68,384 shares of the company's stock after acquiring an additional 16,884 shares during the quarter. Verdence Capital Advisors LLC owned approximately 0.46% of Burke & Herbert Financial Services worth $4,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Burke & Herbert Financial Services in the 3rd quarter worth about $118,000. Truist Financial Corp bought a new position in Burke & Herbert Financial Services in the 4th quarter worth about $340,000. SG Americas Securities LLC boosted its stake in Burke & Herbert Financial Services by 49.8% in the 4th quarter. SG Americas Securities LLC now owns 7,591 shares of the company's stock worth $473,000 after purchasing an additional 2,524 shares during the period. Quest Partners LLC bought a new position in Burke & Herbert Financial Services in the 3rd quarter worth about $478,000. Finally, Virtu Financial LLC bought a new position in Burke & Herbert Financial Services in the 3rd quarter worth about $526,000.

Analyst Upgrades and Downgrades

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

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Burke & Herbert Financial Services Price Performance

Shares of BHRB traded up $0.15 during trading hours on Friday, reaching $60.29. 76,270 shares of the company's stock traded hands, compared to its average volume of 59,943. The stock has a market cap of $902.42 million and a PE ratio of 25.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $62.24 and its 200-day simple moving average is $64.15. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.65%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 91.67%.

Insider Activity

In other news, Director Shawn Patrick Mclaughlin bought 555 shares of the business's stock in a transaction on Monday, December 9th. The stock was acquired at an average price of $69.35 per share, with a total value of $38,489.25. Following the completion of the purchase, the director now directly owns 61,000 shares in the company, valued at $4,230,350. This represents a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 1,000 shares of the business's stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $64.48 per share, with a total value of $64,480.00. Following the purchase, the director now owns 244,355 shares of the company's stock, valued at $15,756,010.40. This represents a 0.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 19,555 shares of company stock worth $1,255,379. 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.