American Century Companies Inc. Acquires 26,509 Shares of Burke & Herbert Financial Services Corp. $BHRB

Key Points

• American Century Companies Inc. increased its stake in Burke & Herbert Financial Services by 103.7%, owning a total of 52,067 shares valued at approximately $2.92 million.
• Burke & Herbert Financial Services recently declared a quarterly dividend of $0.55 per share, translating to an annual yield of 3.5%.
• Analysts have mixed ratings on Burke & Herbert Financial Services, with target price estimates ranging from $70.00 to $73.00 and a consensus rating of "Buy."

American Century Companies Inc. boosted its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 103.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,067 shares of the company's stock after purchasing an additional 26,509 shares during the quarter. American Century Companies Inc. owned about 0.35% of Burke & Herbert Financial Services worth $2,921,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BHRB. Invesco Ltd. raised its stake in Burke & Herbert Financial Services by 60.0% during the fourth quarter. Invesco Ltd. now owns 5,730 shares of the company's stock valued at $357,000 after purchasing an additional 2,148 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Burke & Herbert Financial Services during the fourth quarter valued at $274,000. MetLife Investment Management LLC raised its stake in shares of Burke & Herbert Financial Services by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 8,214 shares of the company's stock valued at $512,000 after acquiring an additional 577 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Burke & Herbert Financial Services by 227.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock valued at $84,000 after acquiring an additional 936 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Burke & Herbert Financial Services by 117.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,829 shares of the company's stock valued at $613,000 after acquiring an additional 5,319 shares during the period.

Burke & Herbert Financial Services Trading Down 1.5%

BHRB stock traded down $0.97 during trading on Friday, hitting $62.90. The company had a trading volume of 33,729 shares, compared to its average volume of 45,343. The firm has a market capitalization of $944.76 million, a P/E ratio of 9.13 and a beta of 1.21. Burke & Herbert Financial Services Corp. has a 52-week low of $47.57 and a 52-week high of $75.32. The company has a 50 day simple moving average of $61.75 and a 200-day simple moving average of $58.34. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.85 by $0.12. The company had revenue of $87.11 million for the quarter, compared to the consensus estimate of $86.06 million. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. As a group, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Burke & Herbert Financial Services's dividend payout ratio is presently 31.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a research note on Thursday, July 10th. They issued a "buy" rating and a $70.00 target price on the stock. DA Davidson increased their target price on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $71.67.

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.