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

Burke & Herbert Bank & Trust Co. decreased its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,358 shares of the company’s stock after selling 6,499 shares during the period. Burke & Herbert Financial Services accounts for approximately 3.8% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 4th largest position. Burke & Herbert Bank & Trust Co. owned approximately 1.71% of Burke & Herbert Financial Services worth $15,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp acquired a new position in Burke & Herbert Financial Services during the second quarter worth $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 during the last quarter. Modera Wealth Management LLC bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at about $383,000. Verdence Capital Advisors LLC lifted its stake in Burke & Herbert Financial Services by 18.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 51,500 shares of the company’s stock valued at $3,141,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Burke & Herbert Financial Services during the third quarter worth about $478,000.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 3,000 shares of Burke & Herbert Financial Services stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $68.75 per share, with a total value of $206,250.00. Following the acquisition, the director now owns 182,939 shares in the company, valued at $12,577,056.25. This trade represents a 1.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $63.00 per share, for a total transaction of $63,000.00. Following the purchase, the director now owns 62,000 shares in the company, valued at approximately $3,906,000. The trade was a 1.64 % 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 valued at $899,432. 9.65% of the stock is currently owned by company insiders.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $64.09 on Monday. Burke & Herbert Financial Services Corp. has a 52 week low of $46.00 and a 52 week high of $75.32. The company has a market capitalization of $959.43 million and a price-to-earnings ratio of 26.70. The company has a 50-day simple moving average of $63.54 and a 200 day simple moving average of $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) last issued its quarterly earnings data 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 return on equity of 15.15% and a net margin of 8.88%. On average, sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared 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 dividend yield of 3.43%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised 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.