Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 4,802 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Samuel Laing Hinson III bought 4,802 shares of the company's stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $55.00 per share, with a total value of $264,110.00. Following the completion of the transaction, the director now directly owns 33,602 shares of the company's stock, valued at approximately $1,848,110. The trade was a 16.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Samuel Laing Hinson III also recently made the following trade(s):

• On Tuesday, April 29th, Samuel Laing Hinson III bought 4,000 shares of Burke & Herbert Financial Services stock. The stock was acquired at an average price of $53.00 per share, with a total value of $212,000.00.

Burke & Herbert Financial Services Price Performance

Shares of BHRB traded down $0.30 during midday trading on Thursday, reaching $56.32. The stock had a trading volume of 702 shares, compared to its average volume of 48,083. The company's 50-day moving average is $54.34 and its 200 day moving average is $60.69. Burke & Herbert Financial Services Corp. has a 12-month low of $46.00 and a 12-month high of $75.32. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $845.01 million and a price-to-earnings ratio of 23.46.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $83.01 million during the quarter, compared to analysts' expectations of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, equities analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 EPS 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, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is currently 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has initiated a stock repurchase program on Friday, April 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BHRB shares. Keefe, Bruyette & Woods lowered their target price on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen raised Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its stake in Burke & Herbert Financial Services by 1.1% during the 4th 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company's stock worth $451,000 after buying an additional 319 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Rhumbline Advisers now owns 18,548 shares of the company's stock worth $1,157,000 after buying an additional 341 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Burke & Herbert Financial Services by 841.3% in the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company's stock worth $27,000 after buying an additional 387 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Burke & Herbert Financial Services by 7.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,214 shares of the company's stock worth $512,000 after buying an additional 577 shares during the last quarter.

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.