Intech Investment Management LLC Makes New $278,000 Investment in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Intech Investment Management LLC purchased a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,461 shares of the company's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BHRB. Swiss National Bank boosted its holdings in Burke & Herbert Financial Services by 1.1% in the fourth quarter. Swiss National Bank now owns 26,400 shares of the company's stock worth $1,646,000 after purchasing an additional 300 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Burke & Herbert Financial Services by 1.9% during the 4th quarter. Rhumbline Advisers now owns 18,548 shares of the company's stock valued at $1,157,000 after buying an additional 341 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Burke & Herbert Financial Services by 4.8% in the 3rd quarter. Quadrature Capital Ltd now owns 12,309 shares of the company's stock worth $750,000 after buying an additional 566 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Burke & Herbert Financial Services by 6.9% in the third quarter. Jane Street Group LLC now owns 18,772 shares of the company's stock worth $1,145,000 after acquiring an additional 1,218 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services during the third quarter valued at $118,000.

Burke & Herbert Financial Services Stock Performance

BHRB stock traded down $1.26 during midday trading on Friday, reaching $55.97. 30,098 shares of the company's stock traded hands, compared to its average volume of 47,387. 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 52-week low of $46.00 and a 52-week high of $75.32. The stock has a market cap of $838.60 million and a P/E ratio of 23.32. The stock's 50-day moving average is $61.58 and its 200 day moving average is $63.42.

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Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 91.67%.

Insider Activity

In other news, Director Gary L. Hinkle purchased 1,000 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $64.48 per share, with a total value of $64,480.00. Following the completion of the acquisition, the director now directly owns 244,355 shares of the company's stock, valued at $15,756,010.40. This trade represents a 0.41 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $63.75 per share, with a total value of $318,750.00. Following the completion of the transaction, the director now owns 187,939 shares of the company's stock, valued at approximately $11,981,111.25. This trade represents a 2.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,140 shares of company stock valued at $1,195,743 in the last ninety days. Corporate insiders own 9.65% of the company's stock.

Analyst Upgrades and Downgrades

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

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.