Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases 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 stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $55.00 per share, for a total transaction of $264,110.00. Following the acquisition, the director now owns 33,602 shares of the company's stock, valued at approximately $1,848,110. This represents a 16.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

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

Burke & Herbert Financial Services Trading Down 0.2%

Shares of NASDAQ:BHRB traded down $0.13 during trading on Friday, reaching $56.97. The stock had a trading volume of 29,197 shares, compared to its average volume of 49,087. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $54.29 and a 200-day moving average price of $60.50. The stock has a market cap of $854.83 million and a P/E ratio of 23.74.

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

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be issued a $0.55 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.86%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 62.68%.

Burke & Herbert Financial Services announced that its board has authorized a share buyback program on Friday, April 25th that permits the company to repurchase $50.00 million in outstanding 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 an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BHRB shares. Wall Street Zen raised shares of Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods cut their target price on shares of 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.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several large investors have recently bought and sold shares of BHRB. SG Americas Securities LLC boosted its holdings in shares of Burke & Herbert Financial Services by 49.8% during the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company's stock worth $473,000 after purchasing an additional 2,524 shares during the period. Rhumbline Advisers lifted its stake in Burke & Herbert Financial Services by 1.9% in the fourth quarter. Rhumbline Advisers now owns 18,548 shares of the company's stock valued at $1,157,000 after acquiring an additional 341 shares during the last quarter. Truist Financial Corp bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at approximately $340,000. Charles Schwab Investment Management Inc. raised its position in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock valued at $6,894,000 after purchasing an additional 2,078 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in Burke & Herbert Financial Services by 32.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company's stock worth $4,264,000 after acquiring an additional 16,884 shares during the period.

About Burke & Herbert Financial Services

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.