Burke & Herbert Financial Services (NASDAQ:BHRB) Director James Mason Burke Sells 1,500 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director James Mason Burke sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total value of $109,545.00. Following the completion of the sale, the director directly owned 258,480 shares of the company’s stock, valued at $18,876,794.40. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Burke & Herbert Financial Services Stock Up 0.3%

Burke & Herbert Financial Services stock opened at $73.87 on Thursday. The stock’s 50 day moving average price is $70.01 and its 200 day moving average price is $66.33. Burke & Herbert Financial Services Corp. has a 1-year low of $57.42 and a 1-year high of $75.08. The company has a market cap of $1.49 billion, a PE ratio of 11.84 and a beta of 0.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. The company had revenue of $106.89 million during the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%. On average, sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

BHRB has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a research report on Monday, July 27th. Finally, Wall Street Zen raised Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Institutional Trading of Burke & Herbert Financial Services

Several large investors have recently modified their holdings of the business. Pinnacle Holdings LLC purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $3,101,000. BlackRock Inc. purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $87,556,000. Deutsche Bank AG acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at $1,111,000. Bank of New York Mellon Corp acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at $7,555,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at $203,000.

Burke & Herbert Financial Services Company 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.