Dimensional Fund Advisors LP Grows Stock Holdings in Burke & Herbert Financial Services Corp. $BHRB

Dimensional Fund Advisors LP lifted its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 15.7% during the 1st quarter, HoldingsChannel reports. The firm owned 367,948 shares of the company’s stock after purchasing an additional 49,957 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Burke & Herbert Financial Services were worth $22,919,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Endeavour Capital Advisors Inc. boosted its stake in Burke & Herbert Financial Services by 22.0% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock worth $7,809,000 after buying an additional 22,601 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the 1st quarter worth $1,038,000. Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth $627,000. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth $563,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BHRB shares. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. DA Davidson set a $75.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. 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. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Burke & Herbert Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Jose David Riojas purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $62.00 per share, for a total transaction of $62,000.00. Following the acquisition, the director directly owned 20,000 shares in the company, valued at $1,240,000. This trade represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Georgette R. George sold 1,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the sale, the director directly owned 38,321 shares in the company, valued at $2,823,108.07. This represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 11,434 shares of company stock valued at $719,523 and sold 5,262 shares valued at $376,939. 11.99% of the stock is currently owned by company insiders.

Burke & Herbert Financial Services Price Performance

Shares of BHRB opened at $73.76 on Friday. The company has a market cap of $1.49 billion, a P/E ratio of 11.82 and a beta of 0.57. Burke & Herbert Financial Services Corp. has a fifty-two week low of $56.39 and a fifty-two week high of $75.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $69.19 and its 200 day moving average price is $66.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.98 by $0.05. The company had revenue of $106.90 million during the quarter, compared to analysts’ expectations of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. On average, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

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

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.