Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Position Reduced by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. cut its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,358 shares of the company's stock after selling 6,499 shares during the period. Burke & Herbert Financial Services makes up approximately 3.8% of Burke & Herbert Bank & Trust Co.'s holdings, making the stock its 4th largest holding. Burke & Herbert Bank & Trust Co. owned about 1.71% of Burke & Herbert Financial Services worth $15,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BHRB. Quantbot Technologies LP purchased a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth about $118,000. Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $202,000. SG Americas Securities LLC increased its stake in shares of Burke & Herbert Financial Services by 113.7% during the 3rd quarter. SG Americas Securities LLC now owns 5,067 shares of the company's stock worth $309,000 after purchasing an additional 2,696 shares in the last quarter. Modera Wealth Management LLC acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth approximately $383,000. Finally, Quest Partners LLC acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth approximately $478,000.

Analyst Ratings Changes

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

Burke & Herbert Financial Services Price Performance

BHRB stock traded down $0.18 during trading on Wednesday, hitting $64.43. The stock had a trading volume of 15,418 shares, compared to its average volume of 33,689. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The stock has a market cap of $964.52 million and a price-to-earnings ratio of 26.85. The company's 50 day moving average price is $63.42 and its two-hundred day moving average price is $64.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting 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%. On average, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 3.41%. Burke & Herbert Financial Services's payout ratio is currently 91.67%.

Insider Buying and Selling

In other news, Director Gary L. Hinkle acquired 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of $64.48 per share, for a total transaction of $64,480.00. Following the acquisition, the director now directly owns 244,355 shares in the company, valued at approximately $15,756,010.40. This represents a 0.41 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shawn Patrick Mclaughlin bought 555 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the transaction, the director now directly owns 61,000 shares in the company, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 13,750 shares of company stock worth $899,432. 9.65% of the stock is owned by company 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.