31,166 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Purchased by AA Financial Advisors LLC

AA Financial Advisors LLC acquired a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,166 shares of the company's stock, valued at approximately $1,749,000. AA Financial Advisors LLC owned approximately 0.21% of Burke & Herbert Financial Services at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BHRB. Vanguard Group Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company's stock worth $45,658,000 after acquiring an additional 22,559 shares during the last quarter. Fourthstone LLC boosted its stake in Burke & Herbert Financial Services by 14.3% in the fourth quarter. Fourthstone LLC now owns 454,526 shares of the company's stock worth $28,344,000 after buying an additional 56,928 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Burke & Herbert Financial Services by 5.1% in the 4th quarter. Northern Trust Corp now owns 130,117 shares of the company's stock worth $8,114,000 after acquiring an additional 6,313 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock worth $6,894,000 after purchasing an additional 2,078 shares during the period. Finally, Verdence Capital Advisors LLC boosted 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 valued at $4,264,000 after buying an additional 16,884 shares during the period.

Burke & Herbert Financial Services Stock Up 0.2%

Shares of NASDAQ BHRB opened at $57.04 on Tuesday. The firm has a fifty day simple moving average of $55.10 and a two-hundred day simple moving average of $59.50. The firm has a market capitalization of $855.89 million and a PE ratio of 23.77. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 12 month low of $47.26 and a 12 month high of $75.32.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.86%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 62.68%.

Burke & Herbert Financial Services declared that its Board of Directors has authorized a share buyback program on Friday, April 25th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BHRB shares. Wall Street Zen upgraded Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods dropped 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 report on Tuesday, April 29th.

Insider Buying and Selling

In related news, Director Samuel Laing Hinson III bought 4,802 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $55.00 per share, with a total value of $264,110.00. Following the completion of the purchase, the director now owns 33,602 shares in the company, valued at approximately $1,848,110. The trade was a 16.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jose David Riojas purchased 500 shares of the stock in a transaction dated Thursday, June 5th. The stock was bought at an average cost of $55.85 per share, with a total value of $27,925.00. Following the transaction, the director now owns 19,000 shares in the company, valued at $1,061,150. The trade was a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 10,302 shares of company stock valued at $560,535 over the last quarter. Corporate 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.

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