4,925 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Bought by Voleon Capital Management LP

Voleon Capital Management LP purchased a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,925 shares of the company's stock, valued at approximately $307,000.

Several other large investors have also bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in shares of Burke & Herbert Financial Services by 841.3% during the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company's stock valued at $27,000 after purchasing an additional 387 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock worth $84,000 after buying an additional 936 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at approximately $156,000. XTX Topco Ltd purchased a new stake in shares of Burke & Herbert Financial Services during the fourth quarter valued at approximately $239,000. Finally, Avenir Corp bought a new stake in Burke & Herbert Financial Services during the fourth quarter worth $243,000.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle bought 3,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $64.97 per share, with a total value of $194,910.00. Following the completion of the purchase, the director now directly owns 248,459 shares in the company, valued at $16,142,381.23. This represents a 1.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Samuel Laing Hinson III purchased 4,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were acquired at an average cost of $53.00 per share, for a total transaction of $212,000.00. Following the completion of the purchase, the director now directly owns 28,800 shares of the company's stock, valued at approximately $1,526,400. This represents a 16.13 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 21,140 shares of company stock valued at $1,280,263 in the last quarter. Insiders own 10.92% of the company's stock.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB opened at $55.78 on Friday. The company has a market capitalization of $835.75 million and a P/E ratio of 23.24. The business has a fifty day simple moving average of $55.42 and a two-hundred day simple moving average of $61.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.02. The firm had revenue of $83.01 million during the quarter, compared to analyst estimates of $85.50 million. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services declared that its board has approved a stock buyback program on Friday, April 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.94%. Burke & Herbert Financial Services's dividend payout ratio is presently 62.68%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reduced their price objective on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating for the company in a research note on Tuesday.

Burke & Herbert Financial Services Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.