Burke & Herbert Financial Services (NASDAQ:BHRB) Director Purchases $64,800.00 in Stock

Key Points

• Director Shawn Patrick Mclaughlin purchased 1,000 shares at $64.80 for $64,800, boosting his stake to 68,000 shares (≈$4.41M), a 1.49% increase, as disclosed in an SEC filing.
• Dividend announced: Burke & Herbert declared a $0.55 quarterly dividend ($2.20 annualized) with an ex-dividend date of May 15 and a payment date of June 1, implying a ~3.4% yield.
• The company reported quarterly EPS of $1.87 (matching estimates) while revenue slightly missed, and analysts hold a consensus "Hold" rating with a $71.40 price target.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Shawn Patrick Mclaughlin purchased 1,000 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $64,800.00. Following the transaction, the director directly owned 68,000 shares in the company, valued at approximately $4,406,400. This trade represents a 1.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Burke & Herbert Financial Services Trading Up 1.4%

Shares of NASDAQ BHRB traded up $0.93 during midday trading on Tuesday, reaching $65.03. The stock had a trading volume of 208,120 shares, compared to its average volume of 98,980. The firm has a market cap of $977.98 million, a price-to-earnings ratio of 8.42 and a beta of 0.98. Burke & Herbert Financial Services Corp. has a twelve month low of $52.39 and a twelve month high of $70.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50 day moving average price is $64.01 and its 200 day moving average price is $63.96.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.87. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.66%. As a group, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.15 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a $0.55 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Burke & Herbert Financial Services's payout ratio is 28.53%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BHRB. Zacks Research downgraded shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Citigroup downgraded shares of Burke & Herbert Financial Services to a "hold" rating in a research report on Wednesday, February 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Loop Capital set a $74.00 price target on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Finally, Freedom Capital downgraded shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $71.40.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new stake in Burke & Herbert Financial Services during the 4th quarter valued at $30,000. State of Alaska Department of Revenue bought a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at $37,000. Aquatic Capital Management LLC bought a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at $117,000. First United Bank & Trust increased its stake in Burke & Herbert Financial Services by 96.3% during the 3rd quarter. First United Bank & Trust now owns 2,261 shares of the company's stock valued at $139,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Strs Ohio bought a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at $160,000.

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.

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.