Royce & Associates LP Sells 15,645 Shares of Burke & Herbert Financial Services Corp. $BHRB

Royce & Associates LP reduced its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 20.7% in the fourth quarter, HoldingsChannel reports. The firm owned 59,995 shares of the company’s stock after selling 15,645 shares during the quarter. Royce & Associates LP’s holdings in Burke & Herbert Financial Services were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter valued at about $117,000. Strs Ohio bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter valued at about $160,000. Graves Light Lenhart Wealth Inc. bought a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at about $201,000. Tower Research Capital LLC TRC grew its stake in shares of Burke & Herbert Financial Services by 585.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after acquiring an additional 2,898 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at approximately $204,000.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the purchase, the director directly owned 208,939 shares of the company’s stock, valued at $13,173,603.95. This trade represents a 2.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at $126,600. The trade was a 35.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 7,300 shares of company stock valued at $460,650. 10.92% of the stock is owned by company insiders.

Burke & Herbert Financial Services Trading Down 0.0%

Shares of NASDAQ:BHRB opened at $63.60 on Friday. The stock has a 50 day moving average of $63.31 and a 200 day moving average of $64.40. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services Corp. has a 12-month low of $55.40 and a 12-month high of $70.90. The company has a market cap of $1.28 billion, a PE ratio of 8.25 and a beta of 0.74.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. As a group, equities research analysts expect that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BHRB. DA Davidson reiterated a “neutral” rating and set a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Zacks Research downgraded Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Burke & Herbert Financial Services has an average rating of “Moderate Buy” and a consensus price target of $71.40.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.