Bank of America Corp DE Has $1.09 Million Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Bank of America Corp DE increased its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 51.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,518 shares of the company's stock after purchasing an additional 5,932 shares during the quarter. Bank of America Corp DE owned about 0.12% of Burke & Herbert Financial Services worth $1,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHRB. BNP Paribas Financial Markets acquired a new stake in shares of Burke & Herbert Financial Services in the 4th quarter worth approximately $267,000. Voleon Capital Management LP acquired a new stake in Burke & Herbert Financial Services in the fourth quarter worth approximately $307,000. Northern Trust Corp boosted its stake in Burke & Herbert Financial Services by 5.1% during the 4th quarter. Northern Trust Corp now owns 130,117 shares of the company's stock valued at $8,114,000 after purchasing an additional 6,313 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Burke & Herbert Financial Services by 117.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,829 shares of the company's stock valued at $613,000 after purchasing an additional 5,319 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock worth $84,000 after buying an additional 936 shares in the last quarter.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the business's stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $58.38 per share, for a total transaction of $66,553.20. Following the transaction, the director now directly owns 91,361 shares in the company, valued at $5,333,655.18. This represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Samuel Laing Hinson III bought 4,000 shares of the firm's stock in a transaction 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 purchase, the director now directly owns 28,800 shares in the company, valued at approximately $1,526,400. This trade represents a 16.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 11,442 shares of company stock valued at $627,088 over the last quarter. Company insiders own 10.92% of the company's stock.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB traded up $1.40 during mid-day trading on Tuesday, reaching $59.03. The company had a trading volume of 36,887 shares, compared to its average volume of 49,064. The company has a 50-day moving average price of $54.32 and a two-hundred day moving average price of $59.89. The stock has a market cap of $885.75 million and a PE ratio of 24.60. 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 1-year low of $46.00 and a 1-year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.02. The firm had revenue of $83.01 million for the quarter, compared to the consensus estimate of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were given a $0.55 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.73%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 62.68%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BHRB shares. Wall Street Zen raised Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a 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 on the stock in a report on Tuesday, April 29th.

Burke & Herbert Financial Services Company 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.