Burke & Herbert Financial Services (NASDAQ:BHRB) Director Buys $62,000.00 in Stock

Key Points

• Director Jose David Riojas bought 1,000 shares of Burke & Herbert Financial Services at $62.00 each, a $62,000 purchase that increased his ownership by 5.26% to 20,000 shares.
• The stock was down 1.2% in Tuesday trading to $62.33, while recent earnings were mixed: EPS met estimates at $1.87, but revenue came in below expectations at $84.7 million.
• The company announced a quarterly dividend of $0.55 per share, payable June 1, implying a 3.5% annualized yield and a payout ratio of 28.53%.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Jose David Riojas acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $62.00 per share, with a total value of $62,000.00. Following the acquisition, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jose David Riojas also recently made the following trade(s):

• On Tuesday, May 12th, Jose David Riojas bought 300 shares of Burke & Herbert Financial Services stock. The stock was purchased at an average price of $62.00 per share, with a total value of $18,600.00.

Burke & Herbert Financial Services Stock Down 1.2%

Shares of BHRB stock traded down $0.73 during mid-day trading on Tuesday, hitting $62.33. The stock had a trading volume of 152,304 shares, compared to its average volume of 104,213. Burke & Herbert Financial Services Corp. has a 12-month low of $54.45 and a 12-month high of $70.90. The firm has a market capitalization of $938.07 million, a P/E ratio of 8.08 and a beta of 0.74. The firm's 50-day moving average is $63.48 and its two-hundred day moving average is $64.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a return on equity of 14.66% and a net margin of 24.04%.The business had revenue of $84.70 million during the quarter, compared to analysts' expectations of $86.50 million. On average, analysts predict that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is currently 28.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BHRB shares. DA Davidson reiterated a "neutral" rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Citigroup lowered Burke & Herbert Financial Services to a "hold" rating in a research report on Wednesday, February 25th. Freedom Capital lowered Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Zacks Research lowered Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Burke & Herbert Financial Services currently has a consensus rating of "Hold" and an average price target of $71.40.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BHRB. Vanguard Group Inc. increased its position in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after buying an additional 14,358 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock valued at $22,919,000 after purchasing an additional 49,957 shares during the period. Hutchinson Capital Management CA boosted its stake in shares of Burke & Herbert Financial Services by 0.4% in the third quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company's stock worth $15,921,000 after buying an additional 1,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Burke & Herbert Financial Services by 68.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company's stock worth $10,235,000 after buying an additional 66,778 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. boosted its stake in shares of Burke & Herbert Financial Services by 22.0% in 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.