AA Financial Advisors LLC Makes New $1.75 Million Investment in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

AA Financial Advisors LLC bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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.

Other institutional investors have also recently modified their holdings of the company. Citadel Advisors LLC boosted its position in shares of Burke & Herbert Financial Services by 132.4% in the 4th quarter. Citadel Advisors LLC now owns 20,333 shares of the company's stock worth $1,268,000 after buying an additional 11,583 shares in the last quarter. Northern Trust Corp lifted its stake in Burke & Herbert Financial Services by 5.1% in the 4th quarter. Northern Trust Corp now owns 130,117 shares of the company's stock valued at $8,114,000 after buying an additional 6,313 shares in the last quarter. Trexquant Investment LP acquired a new stake in Burke & Herbert Financial Services during the 4th quarter valued at $367,000. American Century Companies Inc. increased its position in Burke & Herbert Financial Services by 30.1% during the fourth quarter. American Century Companies Inc. now owns 25,558 shares of the company's stock worth $1,594,000 after buying an additional 5,917 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock valued at $6,894,000 after acquiring an additional 2,078 shares in the last quarter.

Insider Activity

In other news, Director Samuel Laing Hinson III bought 4,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was acquired at an average cost of $53.00 per share, for a total transaction of $212,000.00. Following the completion of the purchase, the director now owns 28,800 shares of the company's stock, valued at $1,526,400. This trade represents a 16.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose David Riojas purchased 500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $55.85 per share, for a total transaction of $27,925.00. Following the purchase, the director now directly owns 19,000 shares in the company, valued at $1,061,150. This trade represents a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 10,302 shares of company stock valued at $560,535 in the last ninety days. Company insiders own 10.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut 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 research note on Tuesday, April 29th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Burke & Herbert Financial Services Trading Up 0.4%

NASDAQ:BHRB traded up $0.24 during mid-day trading on Friday, reaching $56.50. The company's stock had a trading volume of 177,886 shares, compared to its average volume of 50,609. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $848.07 million and a P/E ratio of 16.10. The company's fifty day simple moving average is $55.40 and its two-hundred day simple moving average is $59.36. Burke & Herbert Financial Services Corp. has a twelve month low of $47.28 and a twelve month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.02. Burke & Herbert Financial Services had a net margin of 12.02% and a return on equity of 15.20%. The business had revenue of $83.01 million for the quarter, compared to analyst estimates of $85.50 million. On average, equities analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

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

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.89%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 62.68%.

Burke & Herbert Financial Services Profile

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.