Vanguard Group Inc. Has $45.66 Million Stock Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Vanguard Group Inc. grew its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 732,163 shares of the company's stock after buying an additional 22,559 shares during the period. Vanguard Group Inc. owned approximately 4.89% of Burke & Herbert Financial Services worth $45,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BHRB. KLP Kapitalforvaltning AS bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at $156,000. Raymond James Financial Inc. acquired a new stake in shares of Burke & Herbert Financial Services during the fourth quarter worth about $274,000. Intech Investment Management LLC bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter valued at about $278,000. Delphi Management Inc. MA bought a new stake in Burke & Herbert Financial Services during the 4th quarter worth approximately $283,000. Finally, Truist Financial Corp acquired a new stake in Burke & Herbert Financial Services during the 4th quarter worth approximately $340,000.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock traded up $1.07 during trading on Tuesday, hitting $50.15. 33,766 shares of the stock were exchanged, compared to its average volume of 48,725. 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 capitalization of $751.40 million and a price-to-earnings ratio of 20.90. The company has a fifty day moving average price of $58.58 and a 200-day moving average price of $62.30. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

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

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services's payout ratio is currently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $58.38 per share, with a total value of $66,553.20. Following the acquisition, the director now owns 91,361 shares of the company's stock, valued at $5,333,655.18. This trade represents a 1.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 3,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $64.97 per share, for a total transaction of $194,910.00. Following the purchase, the director now owns 248,459 shares of the company's stock, valued at approximately $16,142,381.23. The trade was a 1.22 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 19,140 shares of company stock valued at $1,195,743 over the last quarter. 9.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Burke & Herbert Financial Services

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.