JPMorgan Chase & Co. Buys 27,490 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

JPMorgan Chase & Co. lifted its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 481.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 33,199 shares of the company's stock after buying an additional 27,490 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.22% of Burke & Herbert Financial Services worth $2,025,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth about $118,000. Truist Financial Corp bought a new position in Burke & Herbert Financial Services during the second quarter valued at about $202,000. The Manufacturers Life Insurance Company bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $259,000. SG Americas Securities LLC grew its position in Burke & Herbert Financial Services by 113.7% in the third quarter. SG Americas Securities LLC now owns 5,067 shares of the company's stock worth $309,000 after buying an additional 2,696 shares during the last quarter. Finally, Modera Wealth Management LLC acquired a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter valued at $383,000.

Insider Buying and Selling

In related news, Director Shawn Patrick Mclaughlin bought 555 shares of the firm's stock in a transaction on Monday, December 9th. The stock was bought at an average price of $69.35 per share, with a total value of $38,489.25. Following the purchase, the director now directly owns 61,000 shares of the company's stock, valued at approximately $4,230,350. This represents a 0.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary L. Hinkle purchased 3,652 shares of the company's stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $68.56 per share, for a total transaction of $250,381.12. Following the completion of the purchase, the director now directly owns 236,807 shares of the company's stock, valued at $16,235,487.92. The trade was a 1.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 8,950 shares of company stock valued at $614,711. Corporate insiders own 9.65% of the company's stock.

Wall Street Analysts Forecast Growth

BHRB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a "buy" rating and a $76.00 price objective for the company.

Burke & Herbert Financial Services Trading Up 0.7 %

NASDAQ:BHRB traded up $0.40 during trading hours on Thursday, hitting $61.51. 15,328 shares of the stock traded hands, compared to its average volume of 29,571. The firm has a 50 day moving average price of $65.34 and a 200 day moving average price of $63.46. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

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.