Dimensional Fund Advisors LP Reduces Stock Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Dimensional Fund Advisors LP decreased its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 340,697 shares of the company's stock after selling 15,085 shares during the period. Dimensional Fund Advisors LP owned approximately 2.28% of Burke & Herbert Financial Services worth $21,246,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BHRB. Avenir Corp acquired a new position in Burke & Herbert Financial Services in the 4th quarter worth about $243,000. Fourthstone LLC lifted its holdings in Burke & Herbert Financial Services by 14.3% during the 4th quarter. Fourthstone LLC now owns 454,526 shares of the company's stock worth $28,344,000 after buying an additional 56,928 shares during the period. XTX Topco Ltd acquired a new stake in Burke & Herbert Financial Services during the 4th quarter valued at approximately $239,000. Barclays PLC raised its stake in Burke & Herbert Financial Services by 28.7% during the fourth quarter. Barclays PLC now owns 28,601 shares of the company's stock worth $1,784,000 after buying an additional 6,376 shares during the last quarter. Finally, Sterling Capital Management LLC lifted 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 valued at $27,000 after purchasing an additional 387 shares during the period.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th.

Burke & Herbert Financial Services Stock Down 1.0 %

Shares of NASDAQ BHRB traded down $0.57 during mid-day trading on Friday, reaching $56.71. 20,316 shares of the company's stock traded hands, compared to its average volume of 49,520. The stock has a market cap of $849.69 million and a P/E ratio of 23.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The business has a 50-day simple moving average of $54.76 and a 200 day simple moving average of $61.39.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.02. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. The company had revenue of $83.01 million for the quarter, compared to analysts' expectations of $85.50 million. On average, analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS 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. Shareholders of record on Thursday, May 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.20 annualized dividend and a yield of 3.88%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has authorized a stock repurchase plan on Friday, April 25th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Samuel Laing Hinson III purchased 4,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were bought at an average cost of $53.00 per share, with a total value of $212,000.00. Following the acquisition, the director now owns 28,800 shares of the company's stock, valued at $1,526,400. This represents a 16.13 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $63.75 per share, with a total value of $318,750.00. Following the transaction, the director now owns 187,939 shares of the company's stock, valued at $11,981,111.25. This trade represents a 2.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 22,140 shares of company stock worth $1,336,763 in the last 90 days. Insiders own 10.92% of the company's stock.

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.