Burke & Herbert Financial Services (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell Buys 5,000 Shares

Key Points

• Director Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services on June 3 at an average price of $62.76, bringing his total holdings to 26,580 shares. The purchase increased his position by 23.17% and was worth about $313,800.
• The stock rose 2.5% and opened at $63.61, with the company currently valued at about $1.28 billion. It has traded between $55.40 and $70.90 over the past year.
• Burke & Herbert recently reported EPS of $1.87, matching analyst expectations, and paid a quarterly dividend of $0.55 per share for a 3.5% annualized yield. Analysts currently have a consensus rating of Moderate Buy with a $71.40 price target.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $62.76 per share, with a total value of $313,800.00. Following the completion of the transaction, the director directly owned 26,580 shares in the company, valued at $1,668,160.80. This trade represents a 23.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Julian Forrest Jr. Barnwell also recently made the following trade(s):

• On Monday, May 11th, Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock. The shares were bought at an average cost of $63.05 per share, with a total value of $315,250.00.

Burke & Herbert Financial Services Stock Up 2.5%

Burke & Herbert Financial Services stock opened at $63.61 on Friday. Burke & Herbert Financial Services Corp. has a twelve month low of $55.40 and a twelve month high of $70.90. The stock has a 50 day moving average of $63.45 and a two-hundred day moving average of $64.46. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.25 and a beta of 0.69.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.87. The company had revenue of $84.70 million for the quarter, compared to analysts' expectations of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. As a group, research analysts expect that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is currently 28.53%.

Analysts Set New Price Targets

BHRB has been the topic of a number of recent analyst reports. Freedom Capital raised Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Zacks Research cut shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. DA Davidson reiterated a "neutral" rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Finally, Citigroup cut shares of Burke & Herbert Financial Services to a "hold" rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.40.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. LSV Asset Management lifted its stake in shares of Burke & Herbert Financial Services by 152.5% during the third quarter. LSV Asset Management now owns 40,900 shares of the company's stock valued at $2,523,000 after buying an additional 24,700 shares during the period. Endeavour Capital Advisors Inc. grew its position 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 valued at $7,809,000 after purchasing an additional 22,601 shares during the period. Vanguard Group Inc. grew its position in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after purchasing an additional 14,358 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Burke & Herbert Financial Services in the third quarter valued at $457,000. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth about $563,000.

About Burke & Herbert Financial Services

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.

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