Thrivent Financial for Lutherans Sells 11,061 Shares of Burke & Herbert Financial Services Corp. $BHRB

Thrivent Financial for Lutherans cut its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 45.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,352 shares of the company’s stock after selling 11,061 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Burke & Herbert Financial Services were worth $824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Burke & Herbert Financial Services in the 3rd quarter worth $37,000. CWM LLC lifted its stake in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after buying an additional 740 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Burke & Herbert Financial Services by 22.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after buying an additional 400 shares during the last quarter. First United Bank & Trust grew its position in shares of Burke & Herbert Financial Services by 96.3% during the 3rd quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after buying an additional 1,109 shares during the period. Finally, Strs Ohio bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at about $160,000.

Burke & Herbert Financial Services Stock Down 0.4%

Shares of BHRB stock opened at $68.24 on Monday. Burke & Herbert Financial Services Corp. has a 12-month low of $47.57 and a 12-month high of $70.90. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $65.71 and a 200-day moving average of $62.90. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.84 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The firm had revenue of $86.56 million during the quarter, compared to analyst estimates of $80.72 million. As a group, equities research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 28.50%.

Wall Street Analysts Forecast Growth

BHRB has been the subject of a number of analyst reports. DA Davidson cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Finally, Zacks Research raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

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.