Barclays PLC Raises Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Barclays PLC grew its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,601 shares of the company's stock after purchasing an additional 6,376 shares during the period. Barclays PLC owned about 0.19% of Burke & Herbert Financial Services worth $1,784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Burke & Herbert Financial Services by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company's stock valued at $45,658,000 after buying an additional 22,559 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock valued at $6,894,000 after buying an additional 2,078 shares during the period. Verdence Capital Advisors LLC increased its holdings in Burke & Herbert Financial Services by 32.8% in the 4th quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company's stock valued at $4,264,000 after purchasing an additional 16,884 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Burke & Herbert Financial Services by 94.4% in the fourth quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company's stock valued at $4,024,000 after purchasing an additional 31,327 shares during the period. Finally, Swiss National Bank boosted its holdings in Burke & Herbert Financial Services by 1.1% in the fourth quarter. Swiss National Bank now owns 26,400 shares of the company's stock valued at $1,646,000 after purchasing an additional 300 shares during the period.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $63.75 per share, with a total value of $318,750.00. Following the acquisition, the director now owns 187,939 shares of the company's stock, valued at $11,981,111.25. This trade represents a 2.73 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samuel Laing Hinson III acquired 4,000 shares of the company's stock in a transaction that occurred 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 acquisition, the director now directly owns 28,800 shares of the company's stock, valued at $1,526,400. This trade represents a 16.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 22,140 shares of company stock valued at $1,336,763. 10.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered 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 report on Tuesday, April 29th.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock traded up $0.15 on Thursday, hitting $56.38. The stock had a trading volume of 2,339 shares, compared to its average volume of 49,383. The company's 50 day moving average price is $54.98 and its 200 day moving average price is $61.46. The stock has a market cap of $844.74 million and a price-to-earnings ratio of 23.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32.

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

Burke & Herbert Financial Services announced that its board has authorized a stock buyback plan on Friday, April 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is presently 62.68%.

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.